ALROSA August sales of rough and polished diamonds reached $181.8 million

ALROSA Group announces diamond sales results for August and eight months of 2019.

In August, ALROSA Group sold $181.8 million worth of rough and polished diamonds. Rough diamond sales by value amounted to $180.2 million, polished diamond sales – $1.5 million.

ALROSA’s total rough and polished diamond sales in January-August 2019 amounted to $2,163.6 million. During the eight months of 2019, rough diamonds were sold for $2,129 million, polished diamonds – for $34.6 million.

“The diamond market is still experiencing headwinds from both macroeconomic and industry specific factors, which have an adverse impact on the midstream. There is also a seasonal slowdown weighing on the summer sales, commented Evgeny Agureev, Director of the United Selling Organization ALROSA, member of the Executive Committee. – Meanwhile, for the first time since 2010, August sales were higher than in July – mainly due to the replenishment of stock by diamond cutters and polishers. Besides, a regular trade session in August started later than usual, so that some sales recognition were moved to September. It is still too early to come to firm conclusions based upon it. However, we are still expecting that after a significant decrease in rough diamond supply by major diamond producers since the beginning of the year, the excess stock in the system is decreasing. This will help to restore supply and demand balance which should not take too long.”