ALROSA's Rough Diamond Sales Hold Steady at $326M in November

Rough Market
07/12/2017 10:52

In November 2017, ALROSA Group sold US$334.2 million worth of rough and polished diamonds. Rough diamond sales by value amounted to US$325.8 million, while polished diamond sales earned US$8.4 million during the month. This follows a month in which the Russian miner sold $326.7 million in rough stones, and represents a 36% increase compared to rough diamond sales in November 2016. Polished sales declined slightly from the $9.6 million in polished diamond sales in the same period last year.

For the year to date (January-November 2017), ALROSA's rough and polished diamond sales amounted to US$4.029 billion. The miner has sold US$3.942 billion in rough diamonds and US$87.4 million polished diamonds this year.

"Sales in November were consistent with our expectations", said ALROSA Vice President Yury Okoemov. "The core sales markets displayed strong demand for rough diamonds. The significant sales growth in monetary terms against last November (+36%) is due, in part, to the low base effect. As a result of the currency reform in India late last year, the demand for rough diamonds from small and middle-sized cutting and polishing companies in this country was temporarily reduced."