ALROSA’s Rough Diamond Sales Surge 39% to $499M in January

Mining and Exploration
12/02/2018 22:40

Russian diamond miner ALROSA's rough diamond sales achieved $499 million in the first month of 2018, in yet another signal that the rough market is booming to start the year. January sales jumped 39% y-o-y compared to the $358.2 million in sales in the same period a year ago. Polished diamond sales reached $5.5 million for the month, down from $7.28 million in 2017. Total sales for the month were $504 million, good for a 38% rise overall compared to the same month a year ago. 

“Earlier this year, we have seen good demand for the whole assortment of our diamond products", said ALROSA Deputy CEO Yury Okoemov on the January sales results. "It was supported by positive trends in the major sales markets backed by good retail sales results in 2017, including the Christmas season, and growing polished diamond prices in January." It is worth noting that de Beers De Beers' rough diamond sales for the first sales cycle of 2018 spiked to $665 million, with the company also citing the need for the industry to restock leading to increasing demand for rough diamonds. Antwerp - ALROSA's largest trade partner - also saw its rough imports surge 14% in value to $1.09 billion in the first month of 2018,