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Alrosa's sale slump continues

Russia’s Alrosa reported another month of low sales figures on Friday, as weak fundamentals continue to plague the diamond market.
Alrosa's sale slump continues Alrosa's sale slump continues Alrosa's sale slump continues Alrosa's sale slump continues Alrosa's sale slump continues

Alrosa's Nyurba mining and processing division is developing the Nyurbinsky and Botuobinsky openpits

Staff reporter

Sales of rough and polished diamonds amounted to US$31.3 million in June, down 22% on the May figure. The company's monthly sales totalled just over US$400 million in January.

"June sales were expectedly low, as we continue making every effort to maintain stability of the diamond industry and support our customers," said Alrosa's deputy CEO Evgeny Agureev.

Alrosa has been offering flexible sales terms to keep long term customers interested, "including the opportunity to defer purchasing contracted volumes".

Agureev said the company "will use all its armour and resources to balance the supply of diamonds with confirmed demand and to avoid putting pressure on the market, which shows signs of recovery".