De Beers May sales slips by 25%

De Beers raised a provisional US$415 million during the cycle, down from $554 million a year ago and from the previous cycle's $581 million.

 

Bruce Cleaver, CEO, De Beers Group, said: "Cycle four saw lower rough diamond sales against a backdrop of
macroeconomic uncertainty, and as we enter a seasonally slower period for the industry with Indian factories
closing temporarily for the traditional holiday period.”

High rough prices has made decreased the demand for diamond roughs - polished prices are not lucrative with such skyrocketing rough prices.