De Beers and Alrosa Announce Their Sales for May
Alrosa‘s rough and polished sales in May showed signs of recovery, following a very weak April.
According to IDEX Online, the Russian diamond miner sold a total of $40.1 million worth of diamonds in May, compared with $15.6 million in April. Before the pandemic hit, in January, Alrosa’s sales totaled $405 million.
Alrosa remarked that it remains committed to its price-over-volume strategy: “We believe that our approach to avoid putting pressure on the market will accelerate recovery of the market of supply and demand balance,” said deputy CEO Evgeny Agureev in a statement.
De Beers has also reported its most recent results, showing sales of $35 million of rough diamonds at its May Sight. The equivalent sale last year, IDEX Online reports, brought in $416 million. Like Alrosa, De Beers has also adopted a price-over-volume policy.