De Beers Raises Some Rough Prices by 10 per cent
June 08, 21
(IDEX Online) - De Beers is reportedly raising prices of larger stones by as much as 10 per cent at its fifth sight of the year, which opened yesterday in Gabarone.
The miner has been increasing prices since the end of 2020 as midstream demand rebounds, but not so dramatically.
Rough diamonds over two carats are up by 10 per cent, sources have told Bloomberg News, and the prices of some smaller goods are also up.
Alrosa has also said it expects to increase rough diamond prices, as consumer demand outstrips slowing supply.
De Beers sales peaked in January at $663m, a three-year-high, but have been falling ever since. February was $550m, March was $450m and provisional sales for May were $380m.
It says it is still offering sight holders increased flexibility amid ongoing travel restrictions.
Pic courtesy De Beers