Sales in December 2020 totaled $521.6 million, including proceeds from rough diamond sales of $470.3 million, and polished diamond sales of $51.2 million.

“ALROSA continues to maintain maximum flexibility in satisfying only confirmed demand for rough diamonds, especially from cutting and polishing sector,” said Evgeny Agureev, Deputy CEO of ALROSA.

“We expect January sales to return to their average for this period, and figure on a stable demand and sales during the first quarter.”

The world’s largest producer of rough diamonds said covid-hit demand started to recover in August.

Last month, rival De Beers raised diamond prices for the first time since the outbreak of the global pandemic, signaling growing confidence in a rebound for the struggling industry.