Morning Bites (part 1)

💎 De Beers has allowed sightholders to defer some rough purchases at its 6th cycle in 2024, Rapaport reports, citing a miner’s message. Hence, sightholders will be able to avoid buying up to 50% of their allocations for <0.75ct diamonds (of medium and high quality) at the upcoming July trading session. In addition, De Beers is to allow sightholders to sell up to 30% of certain rough back to the miner (this option is usually capped at 10%)

Overall, the announced measures are in line with De Beers’ price-over-volume strategy, and could brighten the sentiment on diamonds in 2024, we believe

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