Russian mining giant Alrosa has announced its diamond sales results for November and January-November of 2018. In November, the miner sold $274 million worth of rough and polished diamonds – a drop of 18% year-on-year. Alrosa sold rough for $266.6 million, and polished diamonds for $7.4 million in November.
The company’s total diamond sales in January-November grew 3.7% year-on-year to $4.2 billion. During that period, rough diamonds were sold for $4.1 billion, while polished diamonds were sold for $90.4 million.
Alrosa’s Deputy CEO Yury Okoemov commented: “Diamond sales in November were 13% higher by value and 25% higher by volume against October this year.This may be indicative of strengthening demand for low-cost small-sized rough diamonds, which has been declining over the past few months. However, it is too early to make final conclusions.We still see a lot of potential for the increase in demand for rough diamonds from the Indian diamond-cutting sector, which is still having trouble with access to credit”.
