De Beers: Rough Sales Go Up, Fueled by Indian Demand
De Beers has announced a 15% year-on-year increase in rough diamond sales during the second sales cycle of 2024, totaling $430 million, Diamond World reports.
Al Cook, CEO of De Beers Group, expressed satisfaction with the recent surge in demand, but highlighted the cautious approach taken by US retailers due to economic uncertainty, which has affected restocking post the 2023 holiday season.
Despite subdued demand in the US market, there has been a noticeable uptick in the interest for diamond jewelry among Indian consumers. Cook commented that demand in China remains sluggish, and said that he anticipates a gradual recovery…