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Does Anyone Want to Buy De Beers?

For sale: Diamond miner with unprecedented political challenges operating in the toughest market for years.

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De Beers Lowers Production Plan

Sales and output fell in first quarter due to sluggish market.

De Beers Botswana 1280 rough diamonds USED 042524

De Beers Moving Auctions Head Office to Botswana

Relocation from Singapore will bring business under same roof as sightholder sales.

China natural diamond market 1280 USED 041524

What’s Causing China’s Diamond Slump?

Diamonds in China are underperforming other jewelry categories amid economic and cultural changes affecting Chinese consumer habits.

De Beers Sales Down but on Road to Rebound

Revenue from rough diamonds rises from last sight, still falls 18% from a year ago.

Focus on Retail Jewelry: Rapaport Magazine Highlights

Watch-Lovers Are Seeing Jewelry with New Eyes

Industry journalist Eleonor Picciotto has teamed up with The 1916 Company to give timepiece aficionados a gateway to jewels.

Featured Store: Fana’s Flagship Takes Flight

A fresh take on a family business: The first boutique from this longtime jewelry wholesaler brings a digitally enhanced bridal experience to New York’s SoHo neighborhood.

A Star Is Platinum Born

This luxury jewelry brand turns its namesake precious metal into faceted beads that sparkle like diamonds.

Rapaport

Market Data

Diamonds Metals Currencies Equities

Metal Type

Monthly Change

Gold

-0.85%

Silver

-3.62%

Platinum

4.00%

Palladium

-4.10%

Currency

Monthly Change

Euro

-1.12%

Pound

-0.78%

Yuan

-0.11%

Rupee

-0.15%

Index

Monthly Change

S&P 500

-3.45%

India NIFTY 50

0.40%

Hang Seng

5.85%

Size

Monthly Change

0.30 ct.

0.50 ct.

1.00 ct.

3.00 ct.

Rapaport

Market Comment - May. 02, 2024

Market shaken by reports that De Beers is up for sale. Deal could lead to restructuring of diamond trade amid ongoing pressure from synthetics, sanctions and weak Chinese demand.

Anglo American rejects $39B bid from BHP.

De Beers reduces 2024 production plan by about 10% to 26M-29M cts.

Market slower than usual for this time of year. Slow polished sales lead to sluggish rough demand ahead of De Beers sight.

Short working week due to holidays.

Luk Fook FY4Q retail sales +5% YOY, but China diamond sales down more than 40%.

Mountain Province 1Q sales -31% YOY to $66M, average price -29% to $70/ct.

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