The De Beers Group of Companies sold US$540 million of rough diamond (global sightholder sales and auction sales) for the first sales cycle of 2016. In 2015, its December sales amounted to US$248 million.
According to the company, rough diamond sales during the first cycle of the year improved significantly compared with the final sales cycle of last year. A positive holiday season in the US from a retail perspective, low levels of rough diamond purchases by the midstream in Q4 2015 and a subsequent reduction in manufacturing saw polished diamond stocks pull through the pipeline. This has resulted in firmer polished prices. Rough diamond demand broadened across the entire product range as cutting and polishing factories began to increase their activity.
Philippe Mellier, chief executive of De Beers, said: “We are encouraged by the result of the first sales cycle of 2016, and will keep working closely with our customers to deliver sustainable improvements in the diamond industry in 2016.”
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