Alrosa November Diamond Sales $338 Million

Even before the month ended, Alrosa has already reported sales of $338 million worth of rough and polished diamonds in November. The figure was reported during an executive meeting that included core product sales as well as production status and the results of a review conducted by the Alrosa Budget Committee.

Of the $338 million, $327 million worth of goods were sold to the market. The Russian diamond firm did not report to whom it sold the remaining $11 million worth of goods, though it may have sold them to Gokhran, the state gem and precious metals repository.

Alrosa’s United Selling Organization reported a “considerable increase” in demand for rough diamonds, pinning it on a real shortage resulting from the significant reduction of supply from diamond producers in the first half of 2009.

At the same time, in planning its operations for next year, Alrosa said it relies on cautious scenarios, as it does not see a substantial rise in demand for diamond jewelry so far this year.

The company reiterated its commitment to act responsibly in its sales efforts and not dump goods. This, while “[maintaining its] long-term relationships with major market players, support of demand and fair prices for rough diamonds being its priorities.”