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ALROSA Reports $3.29B In Rough Sales For Jan-Sept 2017

Russian state-controlled diamond miner ALROSA, announced it had sold rough diamonds worth $305.8 million and polished worth $3.9 million in September. The company said it had sold a total of $3.29 billion in rough and $68.1 million in polished over the nine months from January to September this year.

ALROSA said that overall trade activity in September remained at the level it was in August. It attributed the increase in sales over August mainly to the bigger volume of sales of rough diamonds over 10.8 carats at auctions, and some increase in sales on the spot market.

The sales in September were, however, lower than the levels achieved in September last year. "The decline in sales in September compared with the same month in 2016 is due to lower activity level in the market, particularly caused by the early beginning of the Diwali festival in India this year, for which reason many factories are closed for a long period. However, we expect traditional revival of the market situation in the fourth quarter as the industry starts to prepare for the winter holiday season,” said ALROSA Vice President Yury Okoyomov.

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