De Beers sees subdued market for diamonds

De Beers reported suboptimal sales of rough diamonds, especially in the last quarter, resulting in revenues of $4.3 billion, down from $6.2 billion in 2022.

Briefing journalists last week, senior De Beers officials said their forecast indicates that the rough diamond market will remain subdued, highlighting lingering uncertainties. Paul Rowley, the vice president of De Beers Diamond Trading, noted that short to medium-term expectations remained modest due to the slow recovery of major diamond markets.