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SourcingFeb 12, 2021
Alrosa’s January Sales Rise As Cutters Restock
The diamond miner’s sales were up 6 percent year-over-year.
Alrosa’s diamond sales totaled $430 million in January—$421 million in rough and the remaining $9 million in polished goods. Deputy CEO Evgeny Agureev said consumer demand is improving.
Moscow—Alrosa reported this week January rough and polished diamond sales totaled $430 million—$421 million in rough and $9 million in polished goods.
That is up 6 percent from the $405 million in sales in January 2020 but down 18 percent from December, when the sale of previously accumulated stock and the auction of the 14.83-carat “Spirit of the Rose” diamond for $26.6 million boosted results.
At the time its December sales results were released, Deputy CEO Evgeny Agureev said he expected sales to return to average levels for January.
On Wednesday, he said Alrosa’s January results demonstrate improving demand for jewelry in the United States and China, as well as demand in the mid-stream from cutters and polishers.
The diamond miner noted its monthly sales results are preliminary and more detailed information will be available when it reports its first quarter results.
RELATED CONTENT: De Beers Notes ‘Good’ Demand at First Sales of the Year
Alrosa’s January sales results and its CEO’s commentary mirror what De Beers Group reported earlier this month: 2021 is starting off on a strong note due to consumer demand in the U.S. and China, and cutters and polishers need to restock.
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