De Beers Hikes Prices Again at Sight 7
July 13, 21
(IDEX Online) - De Beers hiked its rough prices yet again as Sight 6 opened yesterday in Gabarone.
Better quality stones are reportedly up by five per cent as the midstream clamors to re-stock, consumer demand rallies in the USA and China - and production at the mines fails to keep up.
De Beers has raised prices at almost every Sight this year, after Covid devastated its 2020 sales. Increases at the previous Sight, in early June, were reportedly up as much as 10 per cent for stones over two carats.
But sales rose regardless, to a provisional $470m, halting a four-month slide in sales.
Bruce Cleaver, De Beers Group CEO, said at the time that strong consumer demand and capacity in the midstream capacity and were fueling demand.