The De Beers Group’ rough diamond sales (Global Sightholder Sales and Auction Sales) for its fifth sales cycle of 2016 amounted to US$ 560 million (provisional), the Company announced today. 

Sales for Cycle 5 were lower as compared with sales of the previous cycle worth US$ 630 million (provisional) announced earlier and US$ 636 million (actual) as restated.

“Sales in the fifth cycle of the year were somewhat lower than in the fourth cycle, in line with our expectations and typical seasonal demand patterns,” commented Philippe Mellier, Chief Executive of the De Beers Group. “Rough diamond demand and polished diamond prices remain stable, reflecting steady consumer demand, but we maintain a cautious outlook.”