Alrosa May sales reached $266mn
Alrosa, the world’s largest diamond miner, announces diamond sales results for May and five months of 2019.
In May, Alrosa Group sold $266 million worth of rough and polished diamonds. Rough diamond sales by value amounted to $261.1 million, polished diamond sales –$5.0 million.
Alrosa’s total rough and polished diamond sales in January-May 2019 amounted to $1,589 million. During the five months of 2019, rough diamonds were sold for $1,564.9 million, polished diamonds – for $24.1 million.
“We see the market entering its seasonal slowdown phase. The India’s cutting and polishing sector is still facing a challenge of financing, which holds back the growth in demand for diamond products. The retailers’ stock level remains quite high but keeps declining – this process will take some time.
At the same time, we should note the activity of end consumers of jewelry products in the main markets. While the global diamond production is expected to decrease: by 4% in Q1 compared to the same period last year. These factors give us the reasons to expect that the stock level in the system will gradually get back to normal,” commented Evgeny Agureev, Director of the United Selling Organization Alrosa, member of the Executive Committee.