Rough diamond sales by ALROSA Group in November 2016 amounted to $245.6 million, while polished diamond sales for the same period amounted to $9.6 million. Total diamond sales in November 2016 amounted to $255.2 million, 63% higher compared to the same period last year. However, November sales represent a 43% decline from the $430.8 million in rough diamonds sold in October, whilst recording a healthy increase over the $8.2M in polished sold last month.
“The market activity at year-end was affected by India’s currency reform in November. One of its effects was a temporary decline in the activity of India’s small and middle-size diamond cutting companies, which also affected the low-end small-size rough diamond segment. Activity in other market segments remains high,” says Yury Okoemov, ALROSA Vice President.