Diamond company De Beers sold $430-million of rough diamonds in the second sales cycle of this year.
Sales were higher than the $374-million of rough diamonds sold in the first quarter of this year, but lower than the $497-million in rough diamonds sold in the second sales cycle of 2023.
"I'm pleased to see a further increase in demand for De Beers' rough diamonds during the second sales cycle of 2024. However, ongoing economic uncertainty in the US has led to retailers restocking conservatively after the 2023 holiday season.
"Consumer demand for diamond jewellery is growing in India but remains sluggish in China. Overall, we expect that the ongoing recovery in rough diamond demand will be gradual as we move through the year," CEO Al Cook comments.