Alrosa Announced November Results Amid “Double Digit” Growth in Demand
Russian mining giant Alrosa sold $334 million worth of rough and polished diamonds in November – $310 million in rough diamond sales and $24 million in polished diamond sales, IDEX Online reports.
For the eleven months of 2021, total rough and polished diamond sales accounted for $3.915 billion – $3.736 billion in rough diamond sales and $179 million in polished diamond sales.
Evgeny Agureev, Deputy CEO of Alrosa, commented: “End demand for diamond jewelry 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 jewelry 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.”