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Alrosa diamond sales rise 9% in March

Alrosa’s sale of rough and polished diamonds rose 9% month-on-month in March to US$377.1 million.
Alrosa diamond sales rise 9% in March Alrosa diamond sales rise 9% in March Alrosa diamond sales rise 9% in March Alrosa diamond sales rise 9% in March Alrosa diamond sales rise 9% in March

Alrosa sold US$377.1 million worth of diamonds in March

Staff reporter

Rough diamond sales were up 8% to $369.2 million and whole polished sales were at $8 million compared with $5 million in February.

In the quarter, the diamond miner sold $1 billion worth of rough and polished diamonds, including $987.9 million of rough diamonds, and $16.3 million worth of polished.

CEO Sergey Ivanov said the market was gradually stabilising after soft demand from cutting and polishing companies in the second half of 2018.

"Demand for smaller-sized stones demonstrated recovery in the first quarter. The sector is also gradually restoring the balance between the rough diamond inventories and rough diamond purchase volumes.

"We are cautiously optimistic about the second quarter as, despite the persistent difficulties the Indian manufactures have with access to funding, in general, the end-demand for diamond jewellery demonstrates resilience," he said.