The De Beers Group announced the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for the first sales cycle of 2016 totaled $540 million .
" Rough diamond sales during the first cycle of the year improved significantly compared with the final sales cycle of 2015.
" A positive holiday season in the U . S . from a retail perspective, low levels of rough diamond purchases by the midstream in Q4 2015 and a subsequent reduction in manufacturing saw polished diamond stocks pull through the pipeline.
" This has resulted in firmer polished prices. Rough diamond demand broadened across the entire product range as cutting and polishing factories began to increase their activity. "
Philippe Mellier, De Beers Group Chief Executive, said: “We are encouraged by the result of the first sales cycle of 2016, and will keep working closely with our customers to deliver sustainable improvements in the diamond industry in 2016.”
