De Beers implements third consecutive diamond price hike

February 23, 2021 12:23 PM AEDT
Akshay

Senior Analyst Akshay
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Akshay is a research professional with 6.5 years of experience in Consulting and Research industry across the Mining, Chemicals and Energy domains. He is trained in client servicing, due diligence, research and analysis of the mining and energy commo...

Reportedly, De Beers Group has increased its diamond price by around 4% in its second sale of 2021, as per the media reports.

The Anglo-American PLC unit has raised its prices for the third time in a row after the global economy took a pace post-pandemic.
The strong holiday sales in the US and Chinese New Year have boosted the prospects for diamond.
The current price rise in Botswana is followed by last month's price hike of 5% and another price hike during December.
The price hike mostly covers rough stones that would produce 2 to 4-carat gemstone. The prices for such stones rose more than 7%.
The company recorded its biggest sales of three years in January and expects robust earnings like its peers in the upcoming future.

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