De Beers' Rough Sales Up in First Half


August 12, 2002

De Beers' Rough Sales Up in First Half

De Beers' rough diamond sales in the first half of 2002 rose 8.5% over the same period last year, to $2.8 billion, the company reports.

"Restocking by the retail trade in the first half of the year meant the polished demand from the cutting centers was above underlying retail demand in the consumer markets," De Beers says. "As a result, polished stocks financed by the cutting centers reduced over the period from about $4.1 billion to $3.4 billion."

De Beers says the outlook for the rest of year depends on the global economy and U.S. consumer confidence. The U.S. is the largest single diamond market in the world.





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