Alrosa ten month sales grew by 6% YoY
Alrosa Sales tumbles in October by 28% YoY Alrosa, the world’s largest diamond miner, announces diamond sales results for October and ten months of 2018. In October, Alrosa Group sold $242.8 million worth of rough and polished diamonds (-28% YoY). Rough diamond sales by value amounted to $233.9 million, polished diamond sales – $8.9 million. Alrosa’s total diamond sales in January-October 2018 grew 6% YoY and amounted to $3.9 billion. During the ten months of 2018, rough diamonds were sold for $3.8 billion, polished diamonds – for $83.0 million. “In October, demand for small-size inexpensive rough diamonds continued to remain weak. Seasonal slowdown on the threshold of Diwali, the main Indian holiday, was exacerbated by weakening Rupee/USD FX rate, a number of minor bankruptcies in India and tighter credit conditions for the cutting and polishing sector in this country, says Alrosa Deputy CEO Yury Okoemov. “We expect the situation to stabilize t...