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Alrosa’s April Sales Down, But Demand for Diamond Expected to Jump in Q3

In April, the miner has remained “committed to its price over volume strategy”
Rough Diamonds
Credit: Alrosa

The coronavirus effect: Russian diamond mining giant Alrosa has “virtually stopped” selling rough and polished diamonds in April as the miner remains “committed to its price over volume strategy”.

 

corona virus international airport
Credit: TeamDAF / shutterstock.com

 

Alrosa sold $15.6 million worth of rough and polished diamonds in April. The revenue from rough diamond sales to third parties totaled $13.1 million, and from polished diamond sales – $2.4 million. In January-April 2020, diamond sales amounted to $919.8 million; rough diamonds were sold for $894.4 million, polished diamonds – for $25.4 million.

 

230 carat diamond Russian miner Alrosa
Credit: Alrosa

 

Alrosa’s director of the United Selling Organization of ALROSA (USO) Evgeny Agureev said that “restrictions imposed to fight the coronavirus and a decline in the demand for diamond jewellery have minimised the trade in rough and polished diamonds across the world […] Nevertheless, one should bear in mind that the challenges and restrictions faced by the market and affecting both operations and demand are of a temporary nature. We deal with a rare and limited natural resource, and consumers attach a high emotional value to natural diamonds. Like many other market players, we expect to see an upward trend in demand for diamonds as early as in the beginning of Q3”.



Tags: Diamonds News, Diamond Industry News, Alrosa News, Mining News

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