ALROSA Rough Diamond Sales Fall 30% in September to $306M

Mining and Exploration
11/10/2017 09:19

In September 2017, Russia's ALROSA Group sold $309.7 million worth of rough and polished diamonds, with rough diamond sales amounting to $305.8 million and polished diamond sales $3.9 million. For rough sales, this result represents a 29.7% decline compared to September of 2016, but is also the highest sales figure since June 2017, and a nearly 19% increase from the $258M sold in August. The company notes, "The increase in sales compared to August this year is mainly due to the bigger volume of sales of rough diamonds over 10.8 carats at auctions, and some increase in sales on the spot market." 

For the year thus far (January–September 2017), ALROSA’s rough and polished diamond sales have amounted to $3.357 billion. Rough diamonds sales have reached $3.289 billion, while polished diamonds have achieved $68.1 million. "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," said ALROSA Vice President Yury Okoyomov. As a result of this, "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."