News

May 14, 2019

ALROSA’s Sales in First Four Months of 2019 Impacted by Weak Demand in India

ALROSA’s total diamond  sales for the month of April 2019  amounted to  US$318.7 million, against total sales worth US$377.1 million in the previous month of March.  

Of the April sales, rough diamond sales accounted for US$315.8 million; while polished diamond sales stood at US$2.9 million.

The cumulative total diamond sales for the January–April 2019 period amounted to US$1,322.9 million. In this four-month period, the Company sold rough diamonds worth US$1,303.8 million; and polished diamonds to the value of US$19.2 million.

“In the first months of 2019, the global diamond market saw a somewhat weaker demand from cutters and polishers due to both diamond stock normalisation as mid-streamers in India continue to experience difficulties with access to affordable financing, and inherent cyclicality of the market,” noted Evgeny Agureev, Member of the Management Board, and Director of the United Sales Organisation at ALROSA.

He added: “The Company maintains a moderately positive outlook for the foreseeable future, expecting the market situation to improve in the second half of the year.”