Alrosa diamond sales surge 71.7% to £2.95bn

Alrosa has reported its total rough and polished diamonds sales increased by 71.7% in the first 11 months of 2021, up to $3.91bn (£2.95bn) from $2.28bn (£1.72bn) in 2020.

This total includes $3.73bn (£2.81bn) of rough diamond sales and $179m (£134.95m) of polished diamond sales.

Meanwhile, the company’s rough and polished diamonds sales in November 2021 totalled $334m (£251.82m) in November 2021, increasing 8% from October 2021 revenues of $308m (£232.45m).

The total includes proceeds from rough diamond sales of $310m (£233.72m) which is a 17% fall year-on-year, and polished diamond sales of $24m (£18m), which surged 46%.

Evgeny Agureev, deputy CEO of Alrosa, said: “End demand for diamond jewellery in the key markets keeps growing at a double-digit rate in Q4, driven by the unleashing of pent-up spending and higher confidence among the main consumer groups.

“Market participants see solid demand for bridal jewellery and expect this trend to continue in 2022. Midstream inventories are currently at low levels due to the limited availability of rough supplied by mining companies and continuously strong consumer demand.”

source https://www.jewelleryfocus.co.uk/202735-alrosa-diamond-sales-surge-71-7-to-2-95bn