Alrosa: Rough Diamond Prices are Back to Pre-Covid Levels
Following continuous robust demand, Russian mining giant Alrosa has stated that rough diamond prices have “rebounded to pre-crisis levels by early August,” Rough & Polished reports.
Alrosa added that “jewellery demand remained robust in July, following a strong first half of the year, when it increased by an average of 35% and 15% in the US and China, respectively.”
Deputy CEO Evgeny Agureev commented that retailers note “continued optimism among consumers and their increased interest in diamond jewellery” heading into the second half of the year. This, he added, “continues to support strong demand for rough diamonds from the midstream, which faced supply shortages as early as May to June 2021, when miners saw their inventories drop to record-low levels.”