Moscow, August 9, 2019 – ALROSA Group, the world’s largest diamond miner, announces diamond sales results for July and seven months of 2019.
July 2019 sales of rough and polished diamonds in value terms accounted to $170.5 million. Rough diamond sales were $164.6 million, polished diamond sales came at $5.9 million.
ALROSA’s total rough and polished diamond sales in January-July 2019 amounted to $1,981.8 million, including $1,948.7 of rough diamonds and $33.1 million of polished diamonds sales.
“A significant decline in diamond sales was attributable to a number of factors including a sizable level of diamond inventory overhang in the midstream built-up last year on abnormally high demand growth. This factor was exacerbated by a low availability of credit facilities issue experienced by the mid-stream, trade tensions between USA and China, and other factors. Meanwhile, ALROSA’s price over volume strategy offers more flexibility and accuracy when it comes to defining sales, hence holding back pressure on the market. Recent statistics on the net imports of rough diamonds to India and net export of polished diamonds from this country suggest that the diamond market is gradually coming back to supply-demand balance,” commented Evgeny Agureev, Director of the United Selling Organization ALROSA, member of the Executive Committee.
ALROSA Group rough and polished diamond sales in January-July 2019
|Rough diamonds and grinding powders, $ mln||278.2||340.6||369.2||315.8||261.1||219.3||164.6|
|Polished diamonds, $ mln||3.4||5.0||8.0||2.9||5.0||3.1||5.9|
|Total rough and polished diamonds, $ mln||281.6||345.6||377.1||318.7||266.0||222.4||170.5|