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Post #1633 191
Morning Bites (part 1)

💎De Beers has reported sales of USD 315mn at its 5th Cycle in 2024, ~45% below the historical average and 31% softer YoY (vs. -20% YoY at its 4th cycle in 2024). According to company CEO Al Cook, the recent JCK jewellery show confirmed a resurgence in US retailers’ interest in natural diamonds. Overall, De Beers continues to expect a protracted U-shaped recovery in demand

Despite two De Beers price cuts in January and May 2024, sales remain limited, indicating that industry stock is still elevated. However, we reiterate our view that the global diamond market might show the first signs of a recovery in the next 3-6 months, amid strong fundamentals

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