De Beers Group continues to see strong demand for rough diamonds, with 2022 sales pacing 21 percent ahead of last year.
In its fourth sales cycle of the year (May 2-17), De Beers sold $604 million in rough to sightholders and auction customers.
That is a 57 percent increase from the fourth sales cycle of 2021 ($385 million) and is up 7 percent from $566 million in April, which is unusual as rough diamond sales typically decrease between April and May.
Year-to-date, De Beers’ rough diamond sales have totaled $2.48 billion, up 21 percent from $2.05 billion at this point last year.
De Beers Group continues to see strong demand for rough diamonds, with 2022 sales pacing 21 percent ahead of last year.
In its fourth sales cycle of the year (May 2-17), De Beers sold $604 million in rough to sightholders and auction customers.
That is a 57 percent increase from the fourth sales cycle of 2021 ($385 million) and is up 7 percent from $566 million in April, which is unusual as rough diamond sales typically decrease between April and May.
Year-to-date, De Beers’ rough diamond sales have totaled $2.48 billion, up 21 percent from $2.05 billion at this point last year.
Looking ahead, Cleaver said traditional May holiday shutdowns in India will impact rough demand in the coming sales cycle.
De Beers declined further comment on its results but on LinkedIn, analyst Edahn Golan cited other contributing factors, including rising rough diamond prices and more companies turning to De Beers for goods due to the sanctions on Alrosa.
