De Beers informed that rough diamond sales for the second sight of 2024 grew by 15% to $430 million compared to the first sight of the year. Rough sales for the second sight of 2023 had reached $497 million.
De Beers Group CEO Al Cook has expressed satisfaction with the recent surge in demand for De Beers' rough diamonds observed during the second sales cycle of 2024. However, he highlighted the prevailing economic uncertainty in the United States, which has led retailers to adopt a conservative approach to restocking following the 2023 holiday season.
Despite the cautious sentiment in the US market, there is a growing interest in diamond jewelry among consumers in India. Nevertheless, Cook noted that the pace of demand remains sluggish in China. Looking ahead, he anticipates a gradual recovery in rough diamond demand over the course of the year, navigating through these varied market dynamics.
Cycle 2 2024 (provisional) , Sales value ($m): 430
Cycle 1 2024 (actual), Sales value ($m): 370
Cycle 2 2023 (actual), Sales value ($m): 497
