Proceeds from De Beers‘ third rough-sales cycle of the year were sluggish compared to the previous year, but continued to rise despite approaching a historically quiet period for the industry.
De Beers earned $445 million in April, down 18% from the same time in 2023, it said Wednesday. However, that figure is 3% more than the $431 million reported by the corporation during its second quarter of the year, which ran from February 26 to March 1, and 19% higher than the January quarter.
The continuous rise between sites indicates a clear trend toward market recovery following months of poor demand, midstream oversupply, and store reticence to acquire polished.