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Alrosa spots first signs of diamond market turnaround as investment stones rally

The company said that diamond values demonstrated significantly greater stability this year

MOSCOW, July 20. /TASS/. Russian diamond mining giant Alrosa is seeing early signs of a turnaround in the diamond market, driven by rising prices for investment-grade stones and a gradual recovery in demand, the company told TASS.

"As we previously projected, following the price gains for large gemstones, smaller categories are beginning to catch up, signaling the first signs of a market reversal," Alrosa noted.

The company added that while the Rapaport Diamond Index does not always perfectly mirror actual transaction prices, diamond values have demonstrated significantly greater stability this year compared to the past two to three years.

This trend is particularly pronounced for investment-grade diamonds--defined as high-quality stones weighing over two carats.

Furthermore, jewelry retail data indicates steady demand growth for diamond jewelry across key markets, including the US, India, and China. Analysts at BCG and Altagamma project a compound annual growth rate of 4-7% for the luxury goods market between 2026 and 2029. This trend coincides with depleting inventories among Indian midstream cutters and a substantial decline in global diamond mining volumes.

"We believe these factors will underpin a further recovery in demand for diamond products and support rising prices for both polished and rough diamonds," the company added.

About the company

Alrosa conducts mining operations in the Republic of Sakha (Yakutia) and the Arkhangelsk Region, covering the entire pipeline from exploration and mining to sales and diamond cutting.

Russia holds a 33.03% stake in Alrosa, while Yakutia owns 25%, and local municipal administrations (uluses) where the company operates hold 8%. The remaining approximately 34% of shares are in free float.

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