Sourcing

Diamond Jewelry Demand at a ‘Record High,’ Alrosa Says

SourcingOct 21, 2021

Diamond Jewelry Demand at a ‘Record High,’ Alrosa Says

Both Alrosa and De Beers continue to report robust rough diamond sales fueled by strong consumer demand.

In their most recent results, Alrosa and De Beers Group reported strong rough diamond sales once again, fueled by end-consumer demand that Alrosa described as “record high.” (Photo courtesy of De Beers Group)
New York—Consumers’ current, and seemingly insatiable, appetite for diamond jewelry has pushed demand to record levels, Alrosa said, and continues to fuel midstream demand. 

Alrosa reported earlier this month that sales of rough and polished diamonds totaled $298 million in September—$289 million in rough and $9 million in polished. 

That is 11 percent below the $336 million it generated in rough and polished sales in September 2020—which is right around the time diamond demand began to recover—but remains ahead of September 2019 sales of $258.7 million. 

And Alrosa is still posting significant year-over-year gains.  

The mining company’s rough and polished diamonds sales have totaled $3.27 billion through the first nine months of 2021, more than double the $1.58 billion it had generated at the same point last year, and up 35 percent from $2.42 million in 2019. 

“According to our preliminary estimates, end consumer demand for diamond jewelry is record high,” Deputy CEO Evgeny Agureev said, noting both the United States and China are up double-digits compared to 2019 and jewelry sales in Europe are gaining momentum.

This is fueling strong demand in the midstream and pushing up rough prices. Agureev said the rough diamond price index has returned to 2018 levels, and polished diamond prices are surpassing the 2018 average.  

“Our clients are mostly optimistic about the upcoming festive season, and we expect the positive trend to continue into 2022,” he concluded.  

 Related stories will be right here … 

On Wednesday, De Beers Group reported rough diamond sales of $490 million for the period Oct. 4-19, its eighth sales cycle of the year.

That is up 5 percent from $467 million in cycle 8 2020 and well ahead of $297 million in cycle 8 2019. 

Year-to-date, the company’s diamond sales have totaled approximately $4 billion, double the $1.9 billion it had sold at this point last year (though, De Beers noted, it had one less sales cycle in 2020 due to COVID-19) and up from $3.2 billion in 2019.  

De Beers CEO Bruce Cleaver also noted continued strong demand for diamond jewelry in the U.S., and said the company experienced “robust” demand for rough diamonds ahead of Diwali, when many polishing factories in India will close to celebrate the days-long festival.  

The Latest

Events & AwardsDec 03, 2021
JA New York's Spring Show to Return in 2022

The New Designer Gallery will also make its comeback.

Events & AwardsDec 03, 2021
Gary Roskin Will Receive the 2022 Bonanno Award

Roskin heads the International Colored Gemstone Association, and is a graduate gemologist, author, journalist, and diamond grading expert.

Policies & IssuesDec 03, 2021
Alliance for Responsible Mining Names New Executive Director

Gina D’Amato joins with more than 15 years of experience in sustainable development.

Brought to you by
Train Your Staff Today with Interactive eLearning

Join the prestigious brands, industry organizations and sellers using IGI’s educational services.

CollectionsDec 03, 2021
Piece of the Week: Angely Martinez’s Island Bar Ring

The designer’s memories of beach trips and nature in the Dominican Republic inspired her new opal and pearl collection, “Aqualescence.”

Weekly QuizDec 02, 2021
This Week's Quiz
Test your knowledge of jewelry news from the week of Nov. 29-Dec. 3, 2021.
Take the Quiz
FinancialsDec 02, 2021
Signet Raises Guidance Again, Expands Selection of Lab-Grown Diamonds

Its additions include an exclusive lab-grown diamond cut for Zales’ “Vera Wang True” line and a lab-grown option for Kay’s “Leo” cut.

TrendsDec 02, 2021
A New Book on Lover’s Eyes Jewelry Is Out Now

“Lover’s Eyes: Eye Miniatures from the Skier Collection” features more than 130 examples of the much-sought-after antique style.

Brought to you by
3 Tips For Entering the Estate Market

Generate foot traffic and expand your jewelry expertise by adding an estate assortment to your store in partnership with Windsor Jewelers, Inc.

SurveysDec 02, 2021
2021 Will Be the ‘Year of Jewelry,’ Analyst Says

Edahn Golan forecasts a blockbuster holiday season will cap off a stellar year for U.S. jewelry sales.

×