De Beers’ rough diamond sales volume rose 71% year on year to 9.8 million carats in the third quarter of 2026, following price reductions at its July sales session, according to parent company Anglo American. Consolidated sales volume, excluding sales attributable to joint-venture partners, increased 91% to 8.7 million carats.

Despite the higher volumes, consolidated revenue grew only 4% to USD 731 million for the quarter ended September 30, 2026. The consolidated average selling price fell 45% year on year to USD 84 per carat, while the company’s rough diamond price index declined 20% year on year and 6% quarter on quarter.

Market participants attributed the increase in sales to the July price cuts, which brought De Beers’ prices closer to prevailing market levels. The July sale was the first under the company’s new sightholder contract, which runs through the end of 2028.

Anglo American reported signs of greater stability in rough diamond trading conditions during the quarter, citing a more balanced supply-demand environment and improved consumer demand in the US and India. However, laboratory-grown diamonds continued to weigh on demand for lower-value natural diamonds, particularly in price-sensitive categories.

For the first nine months of 2026, De Beers’ total sales volume increased 37% year on year to 24.6 million carats, while consolidated revenue declined 15% to USD 2.04 billion. The average selling price fell 37% to USD 97 per carat.

Separately, De Beers raised its 2026 production guidance to 25 million–28 million carats from 21 million–26 million carats after assuming full ownership of Canada’s Gahcho Kué mine on October 16. The company also lowered its unit-cost guidance to approximately USD 70 per carat from USD 80.