US and Chinese markets stimulate diamond demand says De Beers

By Dineo Faku Time of article published Jul 29, 2021

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ANGLO American plc said that De Beers had generated $510 million (R7.5 billion) from the sixth rough diamond sales cycle driven by strong demand from the US and Chinese markets.

The sixth sales cycle represented a 6.9 percent increase on the confirmed $477m recorded in the fifth sales cycle.

De Beers chief executive Bruce Cleaver said: “Our sixth sales cycle of the year has seen the continuation of good demand for rough diamonds, driven by strong demand for diamond jewellery in the key US and China consumer markets. 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."

De Beers said the sixth sales cycle represented the expected sales value for the period July 12 to 27 and remained subject to adjustment based on final completed sales.

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BUSINESS REPORT ONLINE

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