ALROSA will cautiously raise diamond prices and increase production

The high demand from end consumers for rough diamonds and the drop in supply create excellent preconditions for a progressive rise in prices, and ALROSA intends to use this opportunity, said the company’s CEO Sergei Ivanov on the sidelines of the St. Petersburg International Economic Forum to Interfax.
“Of course, we are using this opportunity and progressively increasing prices, but so far we are not ready to comment to what level. I can say one thing - we are very thoughtful about the market balance. Our pricing steps are very consistent and careful, in our opinion, this will ensure the "health" of the industry in the long term,” he said.
“Demand for diamonds from retail is very high, so the scale of orders coming from the midstream, as I dare to assume, is now at levels that they have not seen for a long time,” added the head of the company.
Meanwhile, TASS quoted Sergei Ivanov as saying that the company is expecting higher diamond production in 2022-2023 versus the level of the current year. “The production program [for 2022-2023] will be ready by the end of this year. We count on growth, of course, as the markets are good. We can grow within a few percent,” he said recalling that the production target for 2021 provides for extracting 31.5 million carats of rough diamonds.

Vladimir Malakhov, Rough&Polished