Apr 11, 2019

Reporting Total Diamond Sales of US$ 377 Mn for March 2019, ALROSA Expresses Cautious Optimism About Market

ALROSA’s total diamond sales – both rough and polished – for March 2019 touched US$ 377.1 million. This figure represents a rise of US$ 31.5 million or 9%, as compared with the previous month’s sales, recorded at US$ 345.6 million.

For the three-month period January to March, total diamond sales amounted to US$ 1,004 million.

Rough diamond sales for March reached US$ 369.2 million as compared to US$ 340.6 million worth of rough sales in February 2019; whereas polished diamond sales for the increased to US$ 8 million as against US$ 5 million a month earlier.

For the January-March 2019 period, sales of rough diamonds amounted to US$ 987.9 million; and sales of polished stood at US$ 16.3 million.

“The market is gradually stabilising following a soft demand from cutting and polishing companies in the second half of the last year,” ALROSA CEO Sergey Ivanov commented. “Demand for smaller-sized stones demonstrated recovery in the first quarter. The sector is also gradually restoring the balance between the rough diamond inventories and rough diamond purchase volumes. We are cautiously optimistic about the second quarter, as, despite the persistent difficulties the Indian manufacturers have with access to funding, in general, the end-demand for diamond jewellery demonstrates resilience.”