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ALROSA Jan-Apr Rough Diamond Sales $1.3B; Expects Market Improvement

ALROSA reported that it had sold $1.3 billion in rough diamonds along with $19.2 million in polished in the January-April period. Sales of rough in April alone amounted to $315.8 million, while polished accounted for $2.9 million in sales during the month.

ALROSA United Sales Organisation Director Evgeny Agureev commented that demand from the cutting and polishing industry had been weaker in the first months of 2019. He attributed this to the industry mid-stream in India experiencing difficulties accessing affordable financing along with with what he termed was ‘diamond stock normalisation’. The cyclic nature of the market too played a part in weakening demand, 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," Agureev noted.

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