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10 Mar, 2021 13:30

Russian diamond sales triple as demand in key markets recovers – Alrosa 

Russian diamond sales triple as demand in key markets recovers – Alrosa 

Alrosa, the world’s leading diamond-mining company by volume, sold $361 million-worth of rough diamonds and $12 million-worth of polished gems in February, according to a report just published.

Its sales of rough diamonds rose by 5.5 percent compared to the same period a year ago, while sales of polished diamonds grew threefold against those recorded in February 2020.

However, its total diamond sales dropped by 16 percent from the previous month, when the state-owned company sold $430 million-worth of rough and polished diamonds.

Also on rt.com Russia’s ALROSA leading global diamond production amid Covid-19 pandemic – Putin

For the first two months of the current year, its total sales of diamonds amounted to $802 million, including $782 million from rough diamond sales and $21 million from polished.

“The recovery in demand for diamond jewelry in key markets continued in early 2021, providing good support for rough diamond sales,” said Evgeny Agureev, Deputy CEO of Alrosa.

READ MORE: World’s biggest diamond miners offer discounts to spark sales crushed by pandemic

Agureev added that the current supply-and-demand balance remained comfortable for both producers and buyers of rough diamonds.

“Midstream companies will seek to replenish their stocks of rough stones once they see an opportunity for that, we believe,” he said.

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