Menu Click here
website logo
Sign In| Sign Up
back back
Diamond trading
Search for Diamonds Manage Listings IDEX Onsite
diamond prices
Real Time Prices Diamond Index Price Report
news & research
Newsroom IDEX Research Memo Search News & Archives RSS Feeds
back back
Diamond trading
Search for Diamonds Manage Listings IDEX Onsite
diamond prices
Real Time Prices Diamond Index Price Report
news & research
Newsroom IDEX Research Memo Search News & Archives RSS Feeds
back back
MY IDEX
My Bids & Asks My Purchases My Sales Manage Listings IDEX Onsite Company Information Branches Information Personal Information
Logout
Newsroom Full Article

Diwali Closures see De Beers Sales Dip to $430m

November 24, 21 by John Jeffay

(IDEX Online) - De Beers today reported provisional rough sales of $430m at its ninth sight of the year.

That's down almost 13 per cent on the previous sight, largely because of the extended Diwali closures of factories in India.  Sales at Sight 9 in 2020 were $462m.

De Beers said it expected Christmas closures in southern Africa to have a similar effect on the final sight of the year, from 6 to 10 December.

Rough sales at Sight 7 (August) were $522m and Sight 8 (October) were $492m. Sales at Sight 9 were the second lowest of the year after Sight 4 (April) $385m.

De Beers said it had extended the latest sight beyond its normal week-long duration and had again offered more flexible terms to sight holders.

Bruce Cleaver, De Beers CEO, said: "Demand was in line with expectations given the normal pattern of cutting factory closures in India during the Diwali festival. 

"As we head into Cycle 10, we anticipate rough diamond demand will likewise be affected by the Christmas holiday closure of cutting factories in southern Africa, but we expect to see positive industry conditions prevailing into the new year in light of the healthy outlook for the key retail selling season."

Diamond Index
Related Articles

De Beers Reports $515m Sales, amid "Robust" Demand

September 09, 21 by John Jeffay

Read More...

De Beers Sells $490m of Rough ahead of Diwali

October 20, 21 by John Jeffay

Read More...

Newsletter

The Newsletter offers a quick summary of the past week's industry news and full articles.
Our Services About IDEX Privacy & Security Terms & Conditions Sign-Up Advertise on IDEX Industry Links Contact Us
IDEX on Facebook IDEX on LinkedIn IDEX on Twitter