Jul 11, 2019

ALROSA’s Total Diamond Sales in June 2019 at US$222 Mn Lowest This Year

ALROSA Group’s total diamond – both rough and polished -- sales for June amounted to US$222.4 million. Sales for June have fallen further from May sales which stood at US$266.0 million, and are the lowest monthly sales so far, this year.  

The Group’s rough diamond sales for June touched US$219.3 million; while polished diamond sales stood at US$3.1 million. In line with the overall trend rough sales were again the lowest for any month of 2019 till date. However, polished diamond sales were marginally higher than those in April 2019 when polished sales of the Group amounted to US$2.9 – the lowest in the six-month period of this year.

ALROSA’s total rough and polished diamond sales for the six-month period January to June 2019, amounted to US$1,811 million. For H1 2019, rough diamond sales stood at US$1,784 million; while polished diamond sales reached US$27.3 million.

“We keep implementing our balanced sales strategy amid the backdrop of persisting excess diamond stock both at the cutting and polishing (midstream) sector and at retailers, as well as challenges related to financing of Indian midstream business,” commented Evgeny Agureev, Director of the United Selling Organisation ALROSA, and Member of the Executive Committee. “The market is gradually entering the phase of seasonally low demand for rough diamonds, which also weighs on the industry sales numbers. We expect Improving demand for rough diamonds by the end of the third quarter. We also see stable jewellery demand from end consumers, which creates opportunity for the recovery of overall demand for rough diamonds on the eve of Christmas sales 2019-2020.”