Diamond miner De Beers says good rough diamond demand continued during its second sales cycle for this year on the back of positive consumer demand for diamond jewellery.
The value of diamonds sold in the second quarter increased to $550-million, from $362-million in the second sales cycle of 2019.
Sales were, however, lower than the $663-million of diamonds sold during the first sales cycle of this year.
"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,” CEO Bruce Cleaver notes.