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Yesterday

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ALROSA sees signs of price recovery in the diamond industry

16 november 2023

In its press release, the Russian diamond mining company ALROSA noted signs of market stabilization and price recovery of rough and polished diamonds.

According to ALROSA analysts, the world diamond market situation is positively influenced by improved forecasts for the global economy, the upcoming Christmas sales period and the recovery of the wedding jewelry market in the United States, as well as the efforts made by the largest diamond mining companies in recent months to stabilize diamond inventories in midstream.

Main factors for further improvement in market and price conditions are the remaining shortage of supply of natural diamonds in the medium and long term, as well as the consistent increase in market capacity for luxury goods, including diamond jewelry, in Asia and Latin America.

Leonid Khazanov, an industry expert and Doctor of Economics, noted that diamond prices may start rising as early as this year, and next year the balance of supply and demand on the diamond market may reach a state of equilibrium.

“The market will experience some volatility, but I admit that towards the end of the year, diamond prices will rise because Christmas and New Year will come,” the expert said. In his opinion, next year the market fundamentals will come into balance.

According to Sergei Takhiev, head of corporate finance at ALROSA, by October there was a stabilization in diamond prices, and there were the first positive signs for certain types of stones.

“We are now seeing more and more signs that the phase of inventory reduction in the cutting industry and retail segment is coming to an end,” he noted.

Theodor Lisovoy, Editor in Chief of the European bureau, Rough&Polished