De Beers Sells $510m Rough as Demand Remains High
July 28, 21
(IDEX Online) - De Beers today said it sold $510m (provisional) of rough at Sight 6, as demand remained high, especially from the US and China.
The figure is more than four times the $116m total for last July, in the depths of the pandemic, but more significantly it is more than double the $250m figure for pre-Covid July 2019.
De Beers said it was still offering extra flexibility to sight holders, and extended the sale in Gabarone by a day because of ongoing travel restrictions.
It reportedly increased price by another five per cent, on top of a series of rises at most sights this year.
Sales this month were up seven per cent on June ($477m).
Bruce Cleaver, CEO of De Beers Group, said: "With the ongoing strength in consumer sales of diamond jewellery, the outlook remains positive for the second half of the year, subject to the risks that the pandemic continues to present across the globe."