Diamond sales fall again in June

Wednesday, June 29, 2016

De Beers yesterday reported that the June sight sales fell for the second consecutive time to $560 million, which the miner regards as a typically slower period of the year.

The sales figure, compared with a revised $636 million in the previous sight, represents a decline of 8.5 percent from $586 million revenue estimated by Rapaport News for the equivalent cycle last year.

“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,” said Philippe Mellier, De Beers chief executive officer.

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