As expected, De Beers has an uncharacteristically large December Sight. According to early estimates, the Sight this week offered ~$650 million worth of rough diamonds. There was very little ex-plan reported and box assortments are leaning towards smaller size goods, which possibly explains the somewhat lower prices.
The large rough diamond supply at the December Sight follows a characteristically smaller Sight last month. The Indian diamond sector was away celebrating Diwali, leading to polishing plant closures and a decrease in rough diamond purchases.
