De Beers Group has reported a decline in sales at the tenth and final cycle for 2023 as China’s slowdown and the high cost of rough weaken demand.
News: Polished trading cautious as Indian suppliers return from Diwali break. US driving demand. Focus on memo as jewelers limit inventory during economic uncertainty. Rising expectations for the season; NRF projects Nov.-Dec. retail sales +6% to +8%. Consolidation continues as JBT reports.
News: Diamond trade uncertain as polished prices decline. 1 ct. RAPI -3.6% in Nov. Midstream inventory high due to weak demand after bullish 1H manufacturing. Surat factories closed for Diwali. De Beers eases buyer terms and keeps prices stable at Nov. sight. Boxes offered at deep discounts on.
News: Trading slow as India shuts for Diwali. Polished prices continue to decline amid weak demand and rising inventory. High-end doing well. De Beers research shows brands gaining market share, boosted by ethical assurances. Insight Report estimates 2021 global rough sales +47% to $16.4B,.