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Diamonds net - Rapaport Weekly Market Comment
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Diamonds net - Israel Bourse to Reopen Trading Hall
diamonds.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from diamonds.net Daily Mail and Mail on Sunday newspapers.
RAPAPORT. Sales momentum continued for the two largest diamond miners in February amid higher rough prices and strong retail demand in the US and China.
De Beers raked in $550 million at its second sales cycle of the year, an increase of 52% versus the equivalent trading session in 2020, it reported Wednesday. Alrosa saw more moderate growth of 7% for a total of $372 million at its February sale, with rough revenue up 5% at $361 million. Polished sales at the Russian miner jumped to $12 million from $4.1 million a year earlier.
“Midstream buyers continued to express healthy demand following better-than-expected retail sales of diamond jewelry over Christmas, Chinese New Year and Valentine’s Day, with the industry now set to enter what is traditionally a period of lower seasonal demand,” said De Beers CEO Bruce Cleaver.
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