Alrosa's January Sales up Six per cent to $430m
February 10, 21
(IDEX Online) - Alrosa today reported total rough and polished sales of $430m for January, up six per cent year-on-year.
Demand was firming, especially in China and the USA, said the miner, which has allowed zero-buyouts during most of the pandemic.
The figure was higher than for any month in 2020 apart from December, when the disposal of accumulated stock and sale of the record-breaking Spirit of the Rose diamond for $26m resulted in a monthly total of $522m.
January's proceeds from rough sales were $421m, and polished were $9m.
Last week De Beers reported $650m of rough sales at its first sight of 2021 - the highest figure for three years. It said sales had been boosted by the need for the midstream to restock, coupled with its more flexible approach to sight holders.
Evgeny Agureev, deputy CEO of Alrosa said today: "January sales demonstrate an improving demand for jewelry at key consumer markets - namely in China and the USA.
"Lack of excessive diamonds stocks at the mid-stream provided an additional support for rough diamonds' demand, as cutters and polishers enjoyed an option to purchase diamonds based on their real requirements."
Pic shows Alrosa staff grading diamonds