ALROSA sales of rough and polished diamonds in October totaled $308 million, including proceeds from rough diamond sales of $293 million, and polished diamond sales of $15 million. The company disclosed the results in a press release distributed yesterday.
For ten months of 2021, total rough and polished diamond sales accounted for $3,581 million, including $3,426 million of rough diamond sales and $155 million of polished.
“Demand for jewelry in key markets continues to grow in double digits against the high levels of 2018–2019. Both retailers and cutters expect this upward trend to carry on through the end of the year. Previously adequate supply of polished diamonds was covered from rough diamond inventories accumulated by miners during the downturn period. In the past few months, rough diamonds have been in short supply amid the structural cuts in diamond production (-20% vs the pre-pandemic level). As end consumer demand for natural diamond jewelry remains high, ALROSA aims to gradually restore the supply and demand balance, despite the limited capacities to increase production. At the same time, we are committed to our policy of selling rough diamonds only against actual demand,” said Evgeny Agureev, Deputy CEO of ALROSA.
Vladimir Malakhov, Rough&Polished
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