ALROSA, the world leader in diamond production, announces rough and polished diamond sales results for December and preliminary results for 2018.
ALROSA December sales of rough and polished diamonds increased by 38% YoY to $328.7. Rough diamond sales reached $323.7 million, polished diamond sales were $5 million.
ALROSA’s total diamond sales in 2018 grew 6% YoY to $4.507 billion. Rough diamonds sales grew to $4.412 billion, polished diamonds sales stood at $95.3 million.
“A 6% sales growth in 2018 was driven by both high demand for rough diamonds and positive price dynamics in the first half of the year, market demand was strong in all rough diamond categories, and the traditional slowdown in demand in the second quarter due to seasonality was not registered this year. In the second half of the year, buying activity in the low-priced product segment significantly deteriorated due to the weakening of the global market situation and both seasonality and destocking at a number of Indian midstream companies. At the same time, the company was actively engaged in optimizing its stocks, which made it possible to increase sales in physical terms, despite a decline in production in 2018 by 8% to 36.6 million carats,” – Evgeny Agureev, Member of the Management Board, Director of the United Sales Organization at ALROSA, said.
“In December, sales in value terms increased by 20% compared to November 2018 due to a flexible pricing policy against the background of seasonal renewed demand and replenishment of stocks by the companies in the cutting sector, which took advantage of the pricing environment. Despite the cooling of the market in the second half of 2018, we expect that the final customer’s demand will remain at least stable,” he added.
Disclaimer: This information has been collected through secondary research and TJM Media Pvt Ltd. is not responsible for any errors in the same.