As reported by Rapaport News, demand was strongest for diamonds over 10.80 carats and for fancy-colour stones. Since the start of the year, prices for about 80 per cent of Alrosa's 2-carat to 10-carat diamonds, which are frequently acquired for investment purposes, have risen by six to nine per cent.
Alrosa sells most of its production through auctions and tenders, including electronic bidding that does not require physical viewing. Spot sales also remain an important channel. Dmitry Beresnev, Alrosa's deputy CEO and director of the United Selling Organisation (USO), attributed the increased activity to a growing shortage in this category.
"We are seeing increased activity among our clients, particularly in the segment of large and rare fancy colour diamonds," he said.
"In May, the number of viewings held almost doubled the annual average and broke the pre-pandemic 2019 record. This serves as an indicator of a gradual recovery in demand for diamond products."
Earlier this year, Alrosa unanimously re-elected Pavel Marinychev as CEO and chairman of the managing board for another three-year term. Marinychev joined Alrosa in 2016 and became CEO in 2023. That same year, the US State Department sanctioned him as part of measures restricting Russian access to finance during the war in Ukraine, freezing his US assets and prohibiting related transactions.
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