De Beers reported diamond sales of $315 million for the fifth sales cycle of 2024, a year-on-year decline of 31% versus $sales of $456 million in Cycle 5, 2023. Sales fell 18% compared to $383 million registered at the preceding fourth sight of 2024.

De Beers Group CEO Al Cook said: “The northern summer is generally a quieter period for rough diamond sales, and this was reflected in our cycle 5 sales. The recent annual JCK jewellery show in Las Vegas confirmed a resurgence in retailers’ interest in natural diamonds in the United States but ongoing economic growth challenges in China mean we continue to expect a protracted U-shaped recovery in demand.”