ALROSA Sells $377 Million of Rough and Polished In March

ALROSA's sales of rough and polished diamonds in March increased to $377.1 million, an increase of $31.5 million or 9% against the previous month.

Rough diamond sales grew to $369.2 million (against $340.6 million in February 2019), polished diamond sales increased to $8 million (against $5 million a month earlier).

January-March 2019 sales of rough and polished diamonds amounted to $1 billion: $988 million of rough diamonds and $16.3 million of polished.

"The market is gradually stabilizing following soft demand from cutting and polishing companies in the second half of the last year," said ALROSA CEO Sergey IVANOV. "Demand for smaller-sized stones demonstrated recovery in the first quarter. The sector is also gradually restoring the balance between the rough diamond inventories and rough diamond purchase volumes.

"We are cautiously optimistic about the second quarter, as, despite the persistent difficulties the Indian manufacturers have with access to funding, in general, the end-demand for diamond jewelry demonstrates resilience."