De Beers Second 2016 Sight Estimated at $610 Million
March 01, 16
(IDEX Online News) – Provisional figures from De Beers’ second Sight of 2016, which was completed yesterday (Monday), showed that the value of rough diamond sales was $610 million.
The company said that the preliminary result was further evidence of the continued signs of improvement in rough diamond demand, as excess inventory continues to work its way through the system. The first Sight of the year was valued at $545 million.
“Retailer restocking after the end-of-year holiday season is supporting demand for polished diamonds, and in turn, we are seeing improved demand from the midstream for rough diamonds,” said De Beers Group chief executive, Philippe Mellier.