13-02-2019
Alrosa, the world’s largest producer of rough diamonds in carats, announced January sales of rough and polished diamonds yesterday.
The Russian group sold US$281.5 million worth of rough and polished diamonds over the first month of 2019, a 44-percent drop year-on-year. Deputy CEO Yury Okoemov ascribed the decline to the low season after the active restocking last December.
“In January, market activity was lower than usual. After active restocking at the midstream in December 2018 (our December sales were up 20 percent qoq and up 46 percent yoy), our January sales came lower. At the same time combined sales in December 2018 and January 2019 reached three years average number of US$601.9 million. Sales in the diamond market are always cyclical, and apparently, we are seeing the expected correction after the peak values in previous periods,” he explained. (Photo courtesy: Alrosa)
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