Alrosa's Rough Diamond Sales Slow Again in April

Rough Market
13/05/2019 15:21

Russian diamond miner Alrosa was unable last month to follow up on their modestly encouraging rough-diamond sales from March, as the $316 million earned in April represents a 14% decline from March 2019 and a 20% decline from April 2018. Polished-diamond sales during the month did not fare any better, as Alrosa earned $2.9 million, a 64% decline from March ($8 million) and a 68% decline from April 2018 ($9.1 million). For the first four months of 2019 (Jan-April), according to our calculations Alrosa's rough-diamond sales have declined by 35% to $1.304 billion from $2.015 billiion last year, while their polished-diamond sales are down 41% to $19.2 million from $32.8 million a year ago.

“In the first months of 2019, the global diamond market saw a somewhat weaker demand from cutters and polishers due to both diamond stock normalization as mid-streamers in India continue to experience difficulties with access to affordable financing, and inherent cyclicality of the market," said Evgeny Agureev, Member of the Management Board, Director of the United Sales Organization at Alrosa. "The Company maintains a moderately positive outlook for the foreseeable future, expecting the market situation to improve in the second half of the year.”