ALROSA April Sales Net US$401m

ROUGH MARKET12/05/2021 15:17

Russian miner ALROSA records a strong performance with total sales in April amounting to US$401 million, which includes proceeds from rough diamond sales of US$383 million, and polished diamond sales of US$18 million. For the first four months of 2021, total rough and polished diamond sales accounted for US$1,561 million, of which US$1,509 million for rough diamond sales and US$51 million for polished.

Last April due to government-imposed lockdowns and the group’s commitment to its price over volume strategy, they sold US$15.6 million worth of rough and polished diamonds, whereas in April 2019 total sales reached almost US$319 million. Total sales during Q1 (Jan – Mar) of 2021 were reportedly higher than in the last two years. In 2020 the total amounted to US$904 million, and in 2019 the total was US$1 billion, indicating a positive start to the new year.

“In April, demand for diamond jewelry in the key markets continued to remain sustainably robust. Rough diamonds’ stocks at the mid-stream remain modest, while the supply of the rough diamonds gradually moves to a deficit state as global diamond production capacities are structurally reduced. Our April sales were well supported by the successful results delivered by auctions of high-quality large rough, as well as by strong sales of polished diamonds”, said Evgeny Agureev, Deputy CEO of ALROSA.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: