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De Beers Sees ‘Good Signs’ From U.S. Economy for Diamond Demand

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Jan. 21 (Bloomberg) -- De Beers, the world’s biggest diamond producer, said there are positive indications of demand for the precious gems in the U.S. and China.

“There are good signs coming from the U.S. economy, with improved demand in evidence over the holiday period,” Chief Executive Officer Philippe Mellier will say in a speech today, according to a statement from the company.

Mellier will say that while there’s a “positive outlook” for sales around Chinese New Year, the outlook in India may be negatively affected by inflation and currency volatility in the short term.

Mellier is scheduled to deliver the speech in Gaborone, Botswana, during De Beers first diamond sale of the year.

The U.S. is the biggest diamond consumer, followed by China and India. De Beers is owned by Anglo American Plc.

To contact the reporter on this story: Thomas Biesheuvel in London at tbiesheuvel@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net

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