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Coronavirus Hits Alrosa’s Sales in February

February sales of rough and polished diamonds reached $346 million - a 14% fall over January
Rough Diamonds
Credit: Alrosa

Alrosa has announced that its February sales of rough and polished diamonds reached $346 million – a 14% fall over January. The fall is mainly attributed to the spread of coronavirus, which impacts demand and consumer activity.

 

corona virus diamond jewelry
Credit: IHOR SULYATYTSKYY / shutterstock.com

 

Rough diamond sales to third parties totaled $342.3 million, while sales of polished diamonds totaled $4.1 million.

 

230 carat diamond Russian miner Alrosa
Credit: Alrosa

 

Evgeny Agureev, Deputy CEO of Alrosa, commented: “Our February sales were 14% down compared to January. In February, the uncertainty with the spread of COVID19 virus started to weigh negatively on the demand and customers’ activity, the factor that will be impacting demand in the coming months. However, we continue to pursue a “price-over-volume” strategy to keep prices stable rather than increasing sales volumes”.



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

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