Press release – ALROSA Group announces diamond sales results for October and nine months of 2019.
In October 2019, ALROSA Group sold $264.4 million worth of rough and polished diamonds. Rough diamond sales by value amounted to $253.9 million, polished diamond sales - $10.4 million.
ALROSA’s total rough and polished diamond sales in January-October 2019 amounted to $2,686.6 million. During the nine months of 2019, rough diamonds were sold for $2,639.4 million, polished diamonds - for $47.2 million.
“In 9M 2019, the dominant forces in the rough and polished diamond market included the oversupply of polished diamonds and challenging situation in India’s financial sector. As major producers have reduced diamond supply by a quarter since the beginning of the year and Indian cutters begin to see the overstock gradually clearing, the supply and demand in the diamond pipeline seem to be heading towards balance, even though it would be premature to talk about reaching a complete balance in the near future. Since early August 2019, the prices and demand have somewhat stabilized resulting in three consecutive months of sales growth, with total sales adding 7%, 42% and 2% m-o-m in August, September and October, respectively,” commented Evgeny Agureev, Deputy CEO of ALROSA.
ALROSA Group rough and polished diamond sales in January–October 2019
|Rough diamonds and grinding powders, $ mln||Polished diamonds,|
|Total rough and polished diamonds, $ mln|