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Market NewsNewsDe Beers July sales total $250 mn, vs $533 mn in July 2018

De Beers July sales total $250 mn, vs $533 mn in July 2018

De Beers said on Tuesday rough sales totalled $250 million during the July sight, compared to $533 million in July last year.

Last month, De Beers sales totalled $390 million.

In a statement releasing the figures De Beers CEO said: "With ongoing macroeconomic uncertainty, retailers managing inventory levels, and polished diamond inventories in the midstream continuing to be higher than normal, De Beers Group provided customers with additional flexibility to defer some of their rough diamond allocations to later in the year. As a result, we saw a reduction in sales during the sixth cycle of 2019."