Morning Bites (part 1)

💎De Beers has cut <0.75ct rough prices 4-6% at its fourth cycle in 2024, Rapaport reports, citing its sources. Meanwhile, bigger items (1.0-1.5ct) also faced a decline of around 4%. According to market participants, De Beers' small diamonds performed better during the market downturn in 2023, which resulted in a widened gap between De Beers’ rough prices and those on the outside market

Although this was the second decline in De Beers’ rough prices this year, after the miner cut small stones prices 5-10% at its first cycle in 2024, we keep our positive view on the diamond sector, which might show the first signs of a recovery in the coming ~6 months

#diamonds
https://metals-wire.com/sector/Diamonds