Russian miner ALROSA reports its preliminary rough and polished sales results for November totaled $334 million, $310 million of rough sales and $24 million of polished sales. This marks a total of $3,915 million for the first eleven months of 2021.
According to Evgeny Agureev, Deputy CEO of ALROSA, 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. Market players see increased demand for wedding jewelry and expect this trend to continue unabated in 2022. Midstream inventories are currently at low levels due to the limited availability of raw materials supplied by mining companies and continuously strong consumer demand, he concluded.