18
Jul
De Beers will expand its flexibility for this month’s sight as the miner responds to the market downturn by limiting supply rather than lowering prices. The company will allow sightholders to remove certain goods from allocations of rough diamonds and request larger buybacks than usual, it told clients last week. The July sight comes amid rising inventories and falling prices in the polished sector, especially in India. De Beers’ customers expect the company to maintain rough-price levels to avoid flooding the market and having a further negative impact on polished. De Beers’ sales policies have been in the spotlight in…