Morgan Stanley believes that De Beers is expanding its share in the diamond market

The Morgan Stanley Bank, commenting on higher sales De Beers had in the fourth trading cycle, said that this improvement occurred along with a significant decrease in India's rough imports, which indicates an increase in De Beers' share in the rough diamond market amid reluctance to buy rough diamonds from Russian producer ALROSA, according to an article published by miningmx.com.
Morgan Stanley said polished prices had been down 8-10% from their 2022 peaks, while 0.3 to 1 carat stones decreased 1-3% in price. Low-quality stones under 0.3 carats saw the biggest correction falling in price by about 10%, the bank said, while large stones over 1 carat fell by 8%.
According to Morgan Stanley, De Beers currently expects earnings before interest, tax, depreciation and amortisation (EBITDA) of $1.2 billion in fiscal year 2022, which compares to an EBITDA of $1.1 billion for the previous year.
De Beers' results in Anglo American's first quarter production report released in April were upbeat compared to the results of other divisions of the corporation. Rough diamond production at De Beers increased by 25%. According to the diamond miner’s report, this is due to high operational performance and less impact of weather conditions on the mining operations. The company has not changed its plan for rough diamond production this year, leaving it at the level of 30-33 million carats.