SourcingFeb 01, 2022
In Response to Demand, De Beers Ramps Up ProductionSourcingFeb 15, 2022
Supply Constraints Impact Alrosa’s January Sales
The mining company said demand for diamond jewelry continues to be strong, but its sales are “capped by current production levels.”
A shot of the open-pit mine at the Mir pipe in Yakutia, one of Alrosa’s mining sites. The company sold $325 million in diamonds in January and said it is taking steps to get more rough diamonds on the market for future sales. (Photo courtesy of Alrosa)
Moscow—Alrosa’s second half 2021 supply problems have continued into 2022, impacting January sales and prompting the miner to take steps to get more rough diamonds onto the market.
The company announced last week its January sales totaled $325 million, $315 million in rough and $10 million in polished.
That is a 24 percent decline from $430 million in January 2021 but up 28 percent from $254 million in December, with Alrosa noting that some December sales shifted to January.
In a statement, Deputy CEO Evgeny Agureev said midstream demand for diamonds continued in January following a successful holiday season in key markets. One early report for the U.S. market indicated jewelry sales rose 32 percent year-over-year between Nov. 1 and Dec. 24 and were up 26 percent when compared with pre-pandemic levels.
But Alrosa continues to grapple with supply problems caused by a confluence of factors, including the increased demand for diamond jewelry in the last two years and mines that have faced various COVID-related obstacles.
“Sales have been capped by current production levels, similar to the situation seen in the second half of 2021,” Agureev said. “Amid limited diamond supply globally, Alrosa continues with its measures to quickly respond to market demand by accelerating pre-sale diamond processing.”
Related stories will be right here …
The company announced last week its January sales totaled $325 million, $315 million in rough and $10 million in polished.
That is a 24 percent decline from $430 million in January 2021 but up 28 percent from $254 million in December, with Alrosa noting that some December sales shifted to January.
In a statement, Deputy CEO Evgeny Agureev said midstream demand for diamonds continued in January following a successful holiday season in key markets. One early report for the U.S. market indicated jewelry sales rose 32 percent year-over-year between Nov. 1 and Dec. 24 and were up 26 percent when compared with pre-pandemic levels.
But Alrosa continues to grapple with supply problems caused by a confluence of factors, including the increased demand for diamond jewelry in the last two years and mines that have faced various COVID-related obstacles.
“Sales have been capped by current production levels, similar to the situation seen in the second half of 2021,” Agureev said. “Amid limited diamond supply globally, Alrosa continues with its measures to quickly respond to market demand by accelerating pre-sale diamond processing.”
Alrosa also announced last week it will allow long-term contract holders, which constitute most of its customer base, the chance to buy rough diamonds ahead of schedule though still within their allocations.
The company said it again plans to buy diamonds at the Gokhran auction this month (Gokhran is Russia’s state-owned repository of precious gems and metals) and to hold additional tenders between trading sessions, making the rough diamonds most sought after by cutters available as soon as possible.
“The first quarter of the year is traditionally a period of active rough diamond purchases, as cutters seek to stock up after a holiday season in retail,” Agureev said. “The high season of 2021 was one of the most successful ones in the entire history, as we see robust demand from our customers underpinned by real orders.”
More on Sourcing
The Latest
TrendsJun 20, 2025
Dua Lipa Stays On-Trend With Chunky Engagement RingThe singer’s ring ticks off many bridal trends, with a thick band, half-bezel setting, and solitaire diamond.
TrendsJun 20, 2025
Piece of the Week: Yvonne Léon’s ‘Python Gold’ BraceletThe bracelet references vintage high jewelry and snake symbolism as a playful piece where a python’s head becomes a working belt buckle.
CrimeJun 18, 2025
7 Men Indicted in $100M Brinks Jewelry HeistThe heist happened in Lebec, California, in 2022 when a Brinks truck was transporting goods from one show in California to another.
Brought to you by
Investing in the Next Generation of Bench JewelersThe Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.
AuctionsJun 18, 2025
Historic ‘Marie-Thérèse Pink’ Diamond Fetches $14M at Christie’sThe 10-carat fancy purple-pink diamond with potential links to Marie Antoinette headlined the white-glove jewelry auction this week.
Weekly QuizJun 20, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
EditorsJun 18, 2025
Q&A: Caryl Capeci Dives Into Cruise Jewelry ShoppingThe Starboard Cruises SVP discusses who is shopping for jewelry on ships, how much they’re spending, and why brands should get on board.
AuctionsJun 18, 2025
16th-Century ‘Gresham Grasshopper’ Ring Sells for $56KThe historic signet ring exceeded its estimate at Noonans Mayfair’s jewelry auction this week.
Brought to you by
Jewelers of America is Headed to Las Vegas for JCK 2025The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.
CollectionsJun 18, 2025
Kirk Kara Celebrates 135 Years With New JewelsTo mark the milestone, the brand is introducing new non-bridal fine jewelry designs for the first time in two decades.
TechnologyJun 18, 2025
Alex Brown Named President of Smithee GroupFounder and longtime CEO Ben Smithee will stay with the agency, transitioning into the role of founding partner and strategic advisor.
EditorsJun 17, 2025
The Best New Jewelry from Couture 2025, Part 1Associate Editor Natalie Francisco shares 20 of her favorite pieces from the jewelry collections that debuted at Couture.
ColumnistsJun 17, 2025
Peter Smith: Is Your Comp Plan a Hiring Hindrance?If you want to attract good salespeople and generate a stream of “sleeping money” for your jewelry store, then you are going to have to pay.
AuctionsJun 17, 2025
Colored Gemstones, Signed Jewels Shine in Sotheby’s High Jewelry SaleThe top lot was a colorless Graff diamond, followed by a Burmese ruby necklace by Marcus & Co.
MajorsJun 17, 2025
Amanda Gizzi Gets a Promotion at JAGizzi, who has been in the industry since 2001, is now Jewelers of America’s senior vice president of corporate affairs.
MajorsJun 17, 2025
Kering Names Automotive Exec as Its New CEOLuca de Meo, a 30-year veteran of the auto industry, will succeed longtime CEO François-Henri Pinault.
EditorsJun 16, 2025
Q&A: Bogolo Joy Kenewendo on Mining, Tariffs, and the Energy of Las VegasFollowing visits to Vegas and New York, Botswana’s minerals minister sat down with Michelle Graff to discuss the state of the diamond market.
IndependentsJun 16, 2025
Greenwich St. Jewelers Launches Commitment Campaign Celebrating LGBTQ+ CouplesThe “Your Love Has the Perfect Ring” campaign showcases the strength of love and need for inclusivity and representation, the jeweler said.
MajorsJun 16, 2025
Ivette Nersesyan-Stephanopoulos Joins Tiffany & Co.The former De Beers executive is the jewelry house’s new director of high jewelry for the Americas.
MajorsJun 16, 2025
Catbird Names WNBA Star Nyara Sabally as Its New Brand AmbassadorThe New York Liberty forward is the first athlete to represent the Brooklyn-based jewelry brand.
CollectionsJun 13, 2025
Piece of the Week: Robinson Pelham’s Pear EarringsTake a bite out of the 14-karat yellow gold “Fruits of Love Pear” earrings featuring peridots, diamond stems, and tsavorite leaves.
Events & AwardsJun 13, 2025
AGA to Host ‘Diamonds From Mine to Market’ Education ConferenceThe one-day virtual event will feature speakers from De Beers, GIA, and Gemworld International.
EditorsJun 12, 2025
15 Questions With Jewelry Photographer Ella SophieThe California-based creative talks jewelry photography in the modern era and tackles FAQs about working with a pro for the first time.
AuctionsJun 12, 2025
Vintage Patek Philippe From the ‘50s Sells for $4M at Sotheby’s Al Capone’s pocket watch also found a buyer, though it went for less than half of what it did at auction four years ago.
Events & AwardsJun 12, 2025
Gabriel Love Foundation Introduces Scholarship Honoring Elias GabrielThe foundation has also expanded its “Stronger Together” initiative with Jewelers for Children.
AuctionsJun 12, 2025
Former De Beers Exec Celine Assimon Joins BonhamsAssimon is the auction house’s new chief commercial officer.
EditorsJun 11, 2025
Q&A: Al Cook on Differentiating Natural Diamonds, Traceability, and TariffsThe De Beers Group CEO discusses the company’s new “beacon” program, the likelihood diamonds will be exempt from tariffs, and “Origin.”
MajorsJun 11, 2025
Pandora Bets on Las Vegas for First North American FlagshipThe Danish jewelry giant hosted its grand opening last weekend, complete with a Pandora pink roulette wheel.
