[miningmx.com] – DE BEERS racked up sales of $550m in the June sight, said industry publication, Rapaport which added that rejections of goods offered to sightholders was “small”.
“Diamond prices were reportedly stable at the sight,” it said. “Sightholder sentiment remained negative … as manufacturers stated that polishing rough diamonds at current prices is still unprofitable. However, the amount of rejections at the sight was small.”
Said Investec Securities: “The key point we believe is the low amount of rejections giving confidence that prices have bottomed, and we hope will remain stable for the rest of the year”.
“We certainly wouldn’t expect a significant drop in prices, unlike other commodities such as iron ore,” the UK bank said.
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