Image credit: Mountain Province
During FY 2020, 3,329,289 carats were sold at an average value of $68 per carat (US$51 per carat) for total proceeds of $227.0 million (US$171.3 million) in comparison to 3,284,520 carats sold at an average value of $84 per carat (US$63 per carat) for total proceeds of $276.3 million (US$208.2 million) in FY 2019.
6,518,261 carats recovered during FY 2020 at an average grade of 2.01 carats per tonne, 4% slightly lower than comparable period (FY 2019: 6,820,631 carats at 1.90).
The Company's medium- to long-term outlook for rough diamonds, remains positive. The major producers reported lower levels of sales through 2020 which, together with the stronger retail selling season, will help normalize inventory levels in the cutting centers. In addition, the recent closure of the high-volume Argyle diamond mine will help to establish a more balanced supply and demand equilibrium in the diamond market.
Importantly, consumer confidence and retail spending over the consumer season was particularly strong in Greater China while US sales were reasonably strong despite difficult COVID-19 conditions throughout the period. Together these two markets account for approximately 65% by value of global retail sales of diamond jewelry, says the press release.
Alex Shishlo для Rough&Polished
