Gradually market is stabilizing

Alrosa sales reached

to $377mn in March

Alrosa, the world’s largest diamond producer, announces its diamond sales results for March and the first three months of 2019. January-March 2019 sales of rough and polished diamonds amounted to $1,004 million, including $987.9 million of rough diamonds, and $16.3 million that of polished.

Alrosa March sales of rough and polished diamonds increased to $377.1 million, an increase of $31.5 million or 9% against previous month numbers. 

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).

“The market is gradually stabilizing following a soft demand from cutting and polishing companies in the second half of the last year. 

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 manufactures have with access to funding, in general, the end-demand for diamond jewelry demonstrates resilience,” Alrosa CEO Sergey Ivanov commented.