Alrosa sale tumbles in January 2019
Alrosa January sales lowers by -44% YoY yet, December-January sale maintains 3 years average! Alrosa, the world’s largest diamond miner, announces diamond sales results for January 2019. According to the result, in January, Alrosa Group sold $281.5 million worth of rough and polished diamonds is about -44% YoY. Rough diamond sales amounted to $278.2 million, polished diamond sales –$3.4 million. “In January, market activity was lower than usual. After active restocking at the midstream in December 2018 (our December sales were up 20% QoQ and up 46% YoY), our January sales came lower. At the same time combined sales in December 2018 and January 2019 reached three years average number of $601.9 million. Sales in the diamond market are always cyclical and apparently, we are seeing the expected correction after the peak values in previous periods,” Yury Okoemov, Alrosa Deputy CEO, noted.