ALROSA Reports Rough Sales In November Of $267M, Jan-Nov - $4.1B

(IDEX Online) – ALROSA sold $266.6 million of rough diamonds in November, and $4.1 billion worth in the first 11 months of 2018.

ALROSA's total sales in November of rough and polished diamonds were down 18% on the year to $274 million, with polished diamond sales of $7.4 million.

Meanwhile, total diamond sales in the January-November period increased by 3.7% on the year to $4.2 billion, polished diamond sales of $90.4 million.

"Diamond sales in November were 13% higher by value and 25% higher by volume against October this year," said ALROSA's Deputy CEO Yury Okoemov. "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 an increase in demand for rough diamonds from the Indian diamond-cutting sector, which is still having trouble with access to credit."