ALROSA sold $369.2 million in rough diamonds over March this year, an 8.4 percent increase over the $340.6 million it had sold in February. The miner also sold $8 million in polished, a hefty 60 percent jump over the $5 million it had sold in February.
In all, January-March sales of rough totalled $987.9 million, while polished sales in the period amounted to an aggregate $16.3 million.
"The market is gradually stabilising following a soft demand from cutting and polishing companies in the second half of the last year. Demand for smaller-sized stones showed a recovery in the first quarter. The sector is also gradually restoring the balance between rough diamond inventories and purchase volumes,” said company CEO Sergey Ivanov.
He added that he was cautiously optimistic about the second quarter, observing that despite the difficulties Indian manufacturers were having with access to finance, consumer demand for diamond jewellery showed resilience.