De Beers posted sales of $560 million in its fifth cycle of this year held this month.
“Sales in the fifth cycle of the year were somewhat lower than in the fourth cycle, in line with our expectations and typical seasonal demand patterns,” said De Beers CEO Philippe Mellier.
“Rough diamond demand and polished diamond prices remain stable, reflecting steady consumer demand, but we maintain a cautious outlook.”
The figure includes the June sight held in Gaborone, Botswana, last week, as well as auction sales and supply to beneficiation and government partners. De Beers holds 10 sights in a year, Rapaport News reported.
Rough prices were largely stable and sightholders generally rejected only lower-quality goods, buyers said. However, De Beers adjusted its assortments, resulting in some boxes becoming more expensive even as prices did not rise, sightholders reported.
Even so, sources said De Beers goods are trading on the secondary market for a typical premium of 3 to 4 percent.
De Beers rough diamond sales jumped 12 percent year on year to $3.02 billion in the first half of the year, according to figures provided by the miner to date.
