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ALROSA $274M Diamond Sales In November Bring Jan-Nov Total To $4.2B

ALROSA reported that it had sold $266.6 million worth of rough diamonds along with $7.4 million in polished  for a total of $274 million in November. The sale brought the company’s 11-month total for 2018 to $4.1 billion in rough diamond and $90.4 million in polished sales for a total of $4.2 billion — a 3.7 percent growth in a year-on-year comparison.

"Diamond sales in November were 13 percent higher by value and 25 percent higher by volume against October this year. This may be indicative of strengthening demand for low-cost small-sized rough diamonds, which has been declining over the past few months. However, it is too early to make final conclusions,” said ALROSA Deputy CEO Yury Okoemov.

He added, “We still see a lot of potential for the increase in demand for rough diamonds from the Indian diamond-cutting sector, which is still having trouble with access to credit.”

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