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Large Pipeline Inventories Persist As ALROSA Sells $219M Rough In June

ALROSA reported that it had sold $219.3 million worth of rough diamonds and $3.1 million worth of polished in June this year. This brings the six month total of sales from January through June to $1.78 billion in rough and $27.3 million in polished sales.  

"We keep implementing our balanced sales strategy amid the backdrop of persisting excess diamond stock both at the cutting and polishing (midstream) sector and at retailers, as well as challenges related to financing of Indian midstream business,” said ALROSA United Selling Organisation Director Evgeny Agureev. 

He added, “The market is gradually entering the phase of seasonally low demand for rough diamonds, which also weighs on industry sales numbers. We expect improving demand for rough diamonds by the end of the third quarter. We also see stable jewellery demand from end consumers, which creates opportunity for the recovery of overall demand for rough diamonds on the eve of Christmas sales for 2019-2020.”

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