De Beers Group Rough Diamond Sales for Cycle 10, 2023

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Editor’s Note

This article details De Beers’ provisional sales figures for its tenth sales cycle of 2023, covering the period from November 9 to December 19. The final value remains subject to adjustment.

De Beers Group rough diamond sales for Cycle 10, 2023
Sales Announcement

De Beers Group today announced the value of rough diamond sales for the tenth sales cycle of 2023. The provisional rough diamond sales figure quoted for Cycle 10 represents the expected sales value for the period between 9 November and 19 December and remains subject to adjustment based on final completed sales.

Sales Figures

| Sales Cycle | Sales Value ($m) |
| :— | :— |
| Cycle 10 2023 (provisional) | 130 |
| Cycle 9 2023 (actual) | 86 |
| Cycle 10 2022 (actual) | 417 |

* Cycle 10 2023 provisional sales value represents sales as at 19 December.
* Cycle 9 2023 actual sales value represents sales between the dates of 4 October and 3 November.
* Sales values are quoted on a consolidated accounting basis. Auction sales included in a given cycle are the sum of all sales between the end of the preceding cycle and the end of the noted cycle.

CEO Statement
“In the final sales cycle of 2023, De Beers continued to offer lower levels of rough diamond supply, in line with current demand. As the end-of-year holiday season progresses, we are seeing signs that the diamond industry is regaining its balance between wholesale supply and demand. Polished diamond prices look to have stabilised as inventory levels have decreased, though we expect improvements in rough diamond trading conditions to be gradual.”

— Al Cook, CEO, De Beers Group

Full article: View original |
⏰ Published on: December 20, 2023