DeBeers Cycle shows firm-n-Steady diamond market!
Anglo American rough diamond sales value for De Beers' seventh sales cycle of 2018 worth of US $505mn was lesser than Cycle 6 of US $533mn. Looking at YoY, Cycle 7 of 2017 had been worth of US S507 is also higher than the 2018!
Anglo American plc announces the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for De Beers' seventh sales cycle of 2018, amounting to $505 million. Until Cycle 6, DeBeers total sales reached
US$3.4 billion in 2018 while 2017 sold total rough worth of US$5.2 billion was less than 2016 of US$5.6 billion.
Bruce Cleaver, CEO of De Beers Group, said: "De Beers Group provided Sightholders with the opportunity to re-phase the allocation of some smaller, lower value rough diamonds. Demand remains stable ahead of the September Hong Kong Jewellery & Gem Fair."
Cycle 7 2018(1) (provisional) | Cycle 6 2018(2) (actual) | Cycle 7 2017 (actual) | |
Sales value(3) | $505m | $533m | $507m |
(1) Cycle 7 2018 provisional sales value represents sales as at 10 September 2018.
(2) Cycle 6 2018 actual sales value is restated following the earlier publication of a provisional figure for the sixth sales cycle of 2018.
(3) Sales values are quoted on a consolidated accounting basis and are before capitalisation of pre-commercial production revenues at Gahcho Kué. Auction Sales included in a given cycle are the sum of all sales between the end of the preceding cycle and the end of the noted cycle.
