Editor’s Note
De Beers’ latest sales figures reveal a continued slowdown in the global diamond market, with rough diamond sales declining significantly both year-on-year and sequentially. This underscores persistent challenges in consumer demand and broader economic headwinds affecting the luxury sector.
New data from De Beers, the world’s largest diamond supplier owned by Anglo American, shows that rough diamond sales remained slow during the fifth sales cycle of this year.
De Beers stated that the total rough diamond sales for the fifth sales cycle of 2024 were $315 million, a 31% decrease compared to the same period last year and an 18% drop from the $383 million in the fourth sales cycle of this year.
Year-to-date, the company’s total rough diamond sales amount to $1.95 billion, compared to $2.43 billion in the first five sales cycles of last year, representing a 20% year-on-year decline.
Company CEO Al Cook noted that sales typically slow down as the Northern Hemisphere enters summer. He further added that diamond demand is in a downturn and will take some time to recover, partly due to slowing sales in the Chinese market.
