WhatsApp
Email
Facebook
Twitter
LinkedIn
Customer interest in Alrosa’s diamond products reached an eight-year high in in May, with the number of viewings of its stones more than doubling year on year.
Diamonds above 10.80 carats and fancy-color goods attracted the most demand, the miner said Monday. The trend reinforces growing appetite for high-priced diamonds, the miner added. Since the start of the year, prices have risen 6% to 9% for around 80% of Alrosa’s 2- to 10-carat diamonds, which are often used for investment-grade supply.
The miner sells a significant share of its product through auctions and tenders, including customers bidding electronically without physically viewing the stones. One-off spot sales continue to play a key role as well. Diamond-viewing events take place at the United Selling Organization (USO), a central hub in Russia’s diamond sales network, where stones are sorted, evaluated and prepared for sale.
“We are seeing increased activity among our clients, particularly in the segment of large and rare fancy-color diamonds, which correlates with the growing shortage in this category,” said Dmitry Beresnev, Alrosa’s deputy CEO and director of the USO. “In May, the number of viewings held almost doubled the annual average and broke the pre-pandemic 2019 record. This serves as an indicator of a gradual recovery in demand for diamond products.”
Image: Rough-diamond sorting. (Alrosa)
