Dramatic drop in diamond sales

Russia’s ALROSA, the world’s largest diamond miner, announced its diamond sales for April and four months of 2019, corporate website reports. During the four months of 2019, the company sold rough and polished diamonds for $1,303.8 mio and $19.2 mio, respectively.

“In the first months of 2019, the global diamond market saw a somewhat weaker demand from cutters and polishers due to both diamond stock normalization as mid-streamers in India continue to experience difficulties with access to affordable financing, and inherent cyclicality of the market. The company maintains a moderately positive outlook for the foreseeable future, expecting the market situation to improve in the second half of the year,” Evgeny Agureev, Management Board member, Director of the United Sales Organization at ALROSA, said.

ALROSA’s sales of rough diamonds dropped from $369.2 mio in March to $315.8 mio in April, while polished diamonds sales were $2.9 mio in April compared to $8.0 mio a month earlier.

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