Alrosa Sells $336m in September - Back to Pre-Covid Levels
October 11, 20
(IDEX Online) - Alrosa's rough and polished sales bounced back to pre-Covid levels in September, as demand recovered.
The Russian miner reported totals sales of $336m, up almost a quarter (23 per cent) on the same month last year ($258.7m). It again offered discounts and other incentives to buyers.
Sales for September 2020 were the highest since February, ($346m) before widespread lockdowns and travel restrictions were imposed in response to the global pandemic.
But months of dismal sales from April to July will severely dent annual sales at Alrosa. The 2019 total was $3.338bn. So far during 2020 it has sold $1.579bn.
"Our September sales demonstrate a continuation of diamond demand recovery that started in August, as cutters and retailers gradually normalize their stocks' levels," said deputy CEO Evgeny Agureev.
"It is, however, too early to talk about a steady demand recovery before seeing the jewelry sales' results for the most important holiday season. This year we see it coming at the time of the aggravating epidemiological situation in a number of countries."
Pic courtesy Alrosa