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.
