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Diamond Trade On The Up As De Beers / Alrosa Report Rise
The world’s two largest diamond mining firms - De Beers and Alrosa – reported solid demand for their rough goods in their latest production updates.
De Beers reported sales of $550 million during its second sales period. The sales were 52% up on the same period of last year.
Russia’s Alrosa reported a rise of 7% with sales coming in at $372 million at its February sale. In a promising sign, the sales included a rise in rough revenue of 5% to $361 million.
Bruce Cleaver, CEO, De Beers Group, said: “We saw the continuation of good rough diamond demand during our second sales cycle of 2021 on the back of positive consumer demand for diamond jewellery.
“Midstream buyers continued to express healthy demand following better than expected retail sales of diamond jewellery over Christmas, Chinese New Year and Valentine’s Day, with the industry now set to enter what is traditionally a period of lower seasonal demand. While the year has started positively, we recognise ongoing near-term uncertainty in the pace and shape of the recovery.”
At International Gemological Laboratories, we are also seeing rising demand for our grading certificates as the diamond industry continues to pick up.
Diamond companies are increasing the pace of their demand for reports for their polished diamonds and we expect this to continue.
Photo: De Beers rough diamonds