Sourcing

Alrosa’s First-Half Diamond Sales Top $2B

SourcingJul 21, 2021

Alrosa’s First-Half Diamond Sales Top $2B

Sales are more than double what they were at this point last year and up 31 percent compared with 2019.

Alrosa’s rough diamond sales totaled 11.4 million carats in the second quarter and are at 27 million carats year-to-date. The diamond miner is pacing ahead of both 2020 and 2019 due to continued strong demand for diamond jewelry.
Moscow—Alrosa’s diamond sales continue to pace ahead of both 2020 and 2019 as the demand for diamond jewelry remains strong in the United States and China, and begins to rebound in Europe as restrictions are lifted.

The diamond miner reported earlier this week that it sold 11.4 million carats of rough diamonds in the second quarter. 

That is down from 15.5 million carats in a busy first quarter but up exponentially when compared with 634,000 carats in the second quarter 2020, when COVID-19 brought the diamond market to a halt. 

Year-to-date, rough diamond sales have totaled 27 million carats, nearly three times what Alrosa had sold by this point last year and ahead of 2019 as well, when sales at the halfway point of the year totaled 18.9 million carats. 

Proceeds from rough and polished diamond sales in Q2 reached $1.18 billion, up 1 percent quarter-over-quarter and 14 percent year-over-year. 

Year-to-date, rough and polished diamond sales have hit $2.34 billion, more than twice what they were at this point last year and up 31 percent compared with $1.79 billion in 2019. 

Production in the second quarter totaled 7 million carats, down 8 percent quarter-over-quarter, due mainly to the seasonal processing of low-grade gravels, but up 22 percent year-over-year. 

Year-to-date, production is up 6 percent year-over-year to 14.5 million carats, as Alrosa was cutting diamond output last year. 

Compared to 2019, however, production so far this year is down. 

Alrosa mined 17.6 million carats in the first half of 2019, with the launch of production at the V. Munskoye deposit, increased output at Udachny underground, and increased ore processing at the Botuobinskaya pipe all helping to boost diamond output.

 Related stories will be right here … 

“Jewelry demand remains strong in all key markets,” Alrosa said in a release announcing its Q2 results. 

“At the same time, miners’ rough diamond inventories hit rock-bottom levels as supply structurally dropped [and] … [the] midstream is also witnessing a decline in the inventories of rough and polished diamonds.” 

Demand for rough diamonds outpaced supply in Q2 amid the recovery in India—where factories are humming again following the surge of COVID cases in the spring—and continued demand from the United States and China.

Alrosa said the supply-demand imbalance is driving up rough diamond prices.

Michelle Graffis the editor-in-chief at National Jeweler, directing the publication’s coverage both online and in print.

The Latest

IndependentsDec 07, 2022
How Daniel’s Jewelers Has Lasted 70+ Holiday Seasons

In a Q&A, CEO David Sherwood shares some company history, the secret to success during the busiest time of year, and more.

TrendsDec 07, 2022
Amanda’s Style File: December Blues

Jewelers of America’s Amanda Gizzi spotlights her favorite turquoise, tanzanite, and zircon December birthstone jewelry.

IndependentsDec 07, 2022
The Radiance Lands at Marissa Collections

The retailer is now selling the 13 diamond jewelry capsule collections created by BIPOC designers on its website.

Brought to you by
How To Buy Colored Gemstones

Give your customers the full gemstone buying experience by using the 6C's.

AuctionsDec 07, 2022
Christie’s Magnificent Jewels Auction Totals Nearly $59M in New York

After a 13-carat pink diamond was pulled ahead of the sale, blue and colorless diamonds reigned supreme.

Weekly QuizDec 01, 2022
This Week’s Quiz
Test your knowledge of the latest jewelry news with this quick test.
Take the Quiz
FinancialsDec 06, 2022
Signet Anticipates Solid Holiday Season, Raises Guidance

The jewelry giant posted a decline in same-store sales in the third quarter but is gearing up for a season of growth.

TrendsDec 06, 2022
Pantone’s 2023 Color of the Year Is A Lot Like Rubellite, Spinel, Ruby

“Viva Magenta” easily finds its colored gemstone counterparts.

Brought to you by
Knowledge and Skills for Today’s Hot Topics

From laboratory-grown diamonds to design to country-of-origin, GIA's Alumni Collective™ has a seminar to suite your needs.

AuctionsDec 06, 2022
Jewels from the Sunken ‘Ship of Gold’ Smash Auction Estimates

Holabird Western Americana Collections offered hundreds of treasures recovered from the S.S. Central America in its Dec. 3 sale.

ColumnistsDec 06, 2022
The Smart Lab: 6 Holiday Email Marketing Strategies To Boost Sales

From creating catchy subject lines to retargeting abandoned carts, Emmanuel Raheb has a half-dozen pieces of email marketing advice.

IndependentsDec 06, 2022
CD Peacock Names VP of Client Engagement, Experience

Qi Holtzman is a member of the second generation to run the family-owned Chicago area jeweler.

IndependentsDec 05, 2022
Holocaust Survivor and Jeffrey Mann Jewelers Matriarch Rena Mann Dies

Mann, who opened the Ohio jewelry store with her husband and son in 1984, was 95.

TechnologyDec 05, 2022
Timex Ticks into the Metaverse with Bored Ape Yacht Club

The watch brand will create 500 custom timepieces for holders of Bored Ape Yacht Club NFTs.

EditorsDec 05, 2022
Meet Jewelry’s First TikTok Star

When it comes to translating luxury into the social media platform’s approachable style, JewelsWithJules has cracked the code.

Events & AwardsDec 05, 2022
WJA Foundation Awards Nearly $60K in Scholarships for 2022-2023

Scholarship winners received awards in six different categories.

AuctionsDec 02, 2022
Here’s How 2 Royal Jewels Performed at Auction in Denmark

A princess’s tiara fell within its pre-sale estimate while an Art Deco bracelet from a queen doubled it.

CollectionsDec 02, 2022
Piece of the Week: Foundrae’s Chain

A closer look at the bold links reveals a subtle, surprising detail.

Supplier BulletinDec 01, 2022
Take Your Jewelry Design Process Digital with the GIA Alumni Collective™

Sponsored by GIA Alumni Collective™

WatchesDec 01, 2022
Rolex to Certify Pre-Owned Watches

Retailers within its official distribution network will be able to sell the authenticated timepieces.

CollectionsDec 01, 2022
Kendra Scott’s New Collection is for Barbie Girls

The capsule collection combines the brand’s classic styles with Barbie’s signature pink color.

AuctionsDec 01, 2022
13-Carat Pink Diamond Withdrawn From Christie’s Auction

The auction house is not offering any details on why the fancy vivid pink stone was pulled from its upcoming “Magnificent Jewels” sale.

SourcingDec 01, 2022
Nomad’s Is Selling Its Stones to Raise Money for Ukraine Again

In the spirit of an advent calendar, “Gems to Help Ukraine” will sell a stone a day through Dec. 24 on the Nomad’s Instagram account.

GradingDec 01, 2022
PhotoScribe Granted Patent for Method that Verifies a Stone’s Identification

The secure mark combines an overt mark with a covert data set to provide assurance on a gem.

SurveysNov 30, 2022
5 Things Retailers Should Know About the Start to the Holiday Season

Plus, what a potential rail strike would mean for retailers.

WatchesNov 30, 2022
Watchfinder & Co. Will Launch a Marketplace Next Year

It will provide a place for select luxury watch retailers to sell their stock.

MajorsNov 30, 2022
Pomellato Buys Into Italian Goldsmith

The brand has purchased a minority stake in Costanzo & Rizzetto.

SourcingNov 30, 2022
Firestone Restarts Operations of Lesotho Diamond Mine

Liqhobong has been in a care-and-maintenance period since the start of the pandemic.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy