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Diamonds.net - De Beers Sales Stall Amid India Slowdown

De Beers Sales Stall Amid India Slowdown
RAPAPORT. De Beers registered its weakest sales total since August as rough demand wobbled during India’s Covid-19 wave.
The fourth sales cycle of 2021 saw proceeds of $380 million, down from $450 million in the third cycle, the miner reported Wednesday. Revenues included the sight that took place in early May, as well as auctions.
“We continue to see robust demand for diamond jewelry in the key US and China consumer markets,” said De Beers CEO Bruce Cleaver. “However, the scale of the second wave of Covid-19 in India, where the majority of the world’s diamonds are cut and polished, has led to reduced midstream capacity and subsequently lower rough-diamond demand, during what is already a seasonally slower time of year for midstream purchases.” ....

Rapaport United States Inc , Rapaport United States , Diamonds Net , Covid 19 , De Beers , Apaport News , Rough Diamonds , Rough Market , ராபபோர்ட் ஒன்றுபட்டது மாநிலங்களில் இன்க் , ராபபோர்ட் ஒன்றுபட்டது மாநிலங்களில் , வைரங்கள் நிகர ,

Diamonds.net - De Beers Sales Stall Amid India Slowdown

De Beers Sales Stall Amid India Slowdown
RAPAPORT. De Beers registered its weakest sales total since August as rough demand wobbled during India’s Covid-19 wave.
The fourth sales cycle of 2021 saw proceeds of $380 million, down from $450 million in the third cycle, the miner reported Wednesday. Revenues included the sight that took place in early May, as well as auctions.
“We continue to see robust demand for diamond jewelry in the key US and China consumer markets,” said De Beers CEO Bruce Cleaver. “However, the scale of the second wave of Covid-19 in India, where the majority of the world’s diamonds are cut and polished, has led to reduced midstream capacity and subsequently lower rough-diamond demand, during what is already a seasonally slower time of year for midstream purchases.” ....

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Diamonds.net - De Beers Sight Sees Strong Demand, Low Supply

De Beers Sight Sees Strong Demand, Low Supply
Manufacturers snapped up the limited supply in anticipation of rough shortages, sources told
Rapaport News. Sales will still be 10% to 25% lower than the previous cycle in March because of reduced availability, they estimated. That translates to a sight value of $330 million to $400 million.
“People are buying from the miners and the big sources, thinking that there will probably be tenders that will be canceled,” a sightholder said. “There is the perceived idea that there’s going to be a shortage in certain goods. People are as eager to buy rough as they were four weeks ago.” ....

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Diamonds.net - De Beers, Alrosa See Sales Rise

RAPAPORT. Sales momentum continued for the two largest diamond miners in February amid higher rough prices and strong retail demand in the US and China.
De Beers raked in $550 million at its second sales cycle of the year, an increase of 52% versus the equivalent trading session in 2020, it reported Wednesday. Alrosa saw more moderate growth of 7% for a total of $372 million at its February sale, with rough revenue up 5% at $361 million. Polished sales at the Russian miner jumped to $12 million from $4.1 million a year earlier.
“Midstream buyers continued to express healthy demand following better-than-expected retail sales of diamond jewelry 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,” said De Beers CEO Bruce Cleaver. ....

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Diamonds.net - De Beers Raises Prices for Third Sight in a Row

RAPAPORT. De Beers has increased rough-diamond prices by an average of around 4% to 5% at this week’s sight as momentum in the market continues.

The changes focused on rough above 1 carat, with prices of smaller diamonds stable, market insiders told Rapaport News. The hikes were around. ....

Rapaport United States Inc , Rapaport United States , Diamonds Net , Chinese New Year , De Beers , Joshua Freedman , Rough Diamonds , Rough Prices , Rough Sales , Valentines Day , ராபபோர்ட் ஒன்றுபட்டது மாநிலங்களில் இன்க் , ராபபோர்ட் ஒன்றுபட்டது மாநிலங்களில் , வைரங்கள் நிகர , சீன புதியது ஆண்டு , டி பியர்ஸ் , ஜோஷுவா விடுவிக்கப்பட்டவர் , தோராயமாக வைரங்கள் , தோராயமாக ப்ரைஸஸ் , தோராயமாக விற்பனை , காதலர் நாள் ,