At US$ 266 Mn, ALROSA’s Total Diamond Sales for May Lowest So Far in 2019
ALROSA Group’s total diamond sales for the month of May 2019 amounted to US$ 266 million, marking the lowest monthly sales in 2019. The highest figure was for March 2019, when the Group racked up sales revenues of US$ 377.1 million; sales for April stood at US$ 318.7 million.
ALROSA’s total diamond sales – of rough and polished – for the five-month period January-May 2019 amounted to US$ 1,589 million.
In May, the Company’s rough diamond sales totalled US$ 261.1 million; while polished diamond sales were to the tune of US$ 5.0 million.
For the first five months of the year, rough diamond sales totalled US$ 1,564.9 million; while polished diamond sales touched US$ 24.1 million.
“We see the market entering its seasonal slowdown phase,” commented Evgeny Agureev, Director of the United Selling Organization ALROSA, and Member of the Executive Committee. “India’s cutting and polishing sector is still facing a challenge of financing, which holds back the growth in demand for diamond products. The retailers’ stock level remains quite high but keeps declining – this process will take some time. At the same time, we should note the activity of end consumers of jewellery products in the main markets. While the global diamond production is expected to decrease: by 4% in Q1 compared to the same period last year. These factors give us the reasons to expect that the stock level in the system will gradually get back to normal.”