Alrosa's Sales Rise Again in November, to $334m
December 12, 21
(IDEX Online) - Alrosa reported a second monthly increase in rough and polished sales, up to $334m (provisional) for November.
That compares with $298m in September and $308m in October.
The Russian miner says consumer demand continues to outstrip supply from the mines, leaving midstream inventories at low levels.
Total sales for November were $310m rough and $24m polished. Total combines sales for the year to date are $3.9bn.
"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," said Evgeny Agureev, Alrosa's deputy CEO.
"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."
From next month Alrosa will introduce three different contracts - for retailers, manufacturers and traders - taking into account the specific business needs of each diamond consumer category, in addition to the client's purchase history.