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De Beers’ Sight Two of 2019 at $490M, but 13% Behind 2018

publish:2019-03-11

De Beers sold $490 million worth of rough diamonds in Cycle 2 2019 , down 13% at their second sight last year,holding steady at just $10 million less than their January sale but at a lower level than last year.The combined sales for the first two sights of the year have fallen by 20% compared to 2018.
 
As Bruce Cleaver, CEO, De Beers Group, tells it, "Demand for rough diamonds  holding steady during the second sales cycle of 2019. While overall demand for lower value rough diamonds remains subdued, we did see demand from India has increased as factories begin to replenish. "On the whole, the market seems to have not emerged from the oversupply situation in 2017, and rough diamond supply continues to be robust, though it should fall off a little this year.
 
Source: De Beers

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