Diamond News Archives

(IDEX Online) - De Beers today said it sold $510m (provisional) of rough at Sight 6, as demand remained high, especially from the US and China.

The figure is more than four times the $116m total for last July, in the depths of the pandemic, but more significantly it is more than double the $250m figure for pre-Covid July 2019.

De Beers said it was still offering extra flexibility to sight holders, and extended the sale in Gabarone by a day because of ongoing travel restrictions.

It reportedly increased price by another five per cent, on top of a series of rises at most sights this year. 

Sales this month were up seven per cent on June ($477m).

Bruce Cleaver, CEO of De Beers Group, said: "With the ongoing strength in consumer sales of diamond jewellery, the outlook remains positive for the second half of the year, subject to the risks that the pandemic continues to present across the globe."...

(IDEX Online) - Coronavirus has caused global devastation, but for a diamond industry that was in turmoil, it may prove to have been a blessing in disguise.

It has emerged from the depths of pandemic lockdowns and is now in position that was "unimaginable 12 months ago," say experts Pranay Narvekar and Chaim Even Zohar in IDEX's new state of the industry analysis - Pipeline 2020 - which is available now for free download as an article ^[1]and chart^[2]..

In last year's edition - Prelude to the Storm - the authors concluded that "we face an uncertain future".  This year there is cause for more optimistic.

"The last six months have suddenly dispelled the gloom and the future for the entire industry suddenly looks much brighter," they say. "This has an immediate impact on the entire pipeline."

But they also sound a note of caution, observing that "a good year always sets the stage for the next year's underperformance".

Click here ^[3]to read the Pipeline 2020 article and click here ^[4]to see the Pipeline 2020 chart....