Manufacturers

De Beers Group reaches £396m in rough diamond sales cycle

The group also revealed its actual Cycle 1 2021 sales value between18 January and 2 February 2021 to be $663m (£477m) rising from $363m (£261m) the previous Cycle 2 for 2020

De Beers Group has revealed its provisional value for the Cycle 2 2021 rough diamond sales for the period 22 February to 08 March 08 March 2021 to be $550m (£396m).

The group also revealed its actual Cycle 1 2021 sales value between18 January and 2 February 2021 to be $663m (£477m) rising from $363m (£261m).

The company claimed that due to the global restrictions on trade and movement, the group has continued to implement a “more flexible approach” to rough diamond sales during the second sales cycle of 2021, with the Sight event extended beyond its normal week-long duration.

Bruce Cleaver, CEO, De Beers Group, said: “Midstream buyers continued to express healthy demand following better than expected retail sales of diamond jewellery over Christmas, Chinese New Year and Valentine’s Day, with the industry now set to enter what is traditionally a period of lower seasonal demand.

“While the year has started positively, we recognise ongoing near-term uncertainty in the pace and shape of the recovery.”

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