ALROSA increases rough and polished diamond sales to $4.5B
ALROSA today announced its rough and polished diamond sales results for December and preliminary results for 2018.
ALROSA saw a 6% growth in its diamond sales last year due to high demand and positive price dynamics in the first half of 2018. With total sales growing to $4.5 billion. Rough diamonds grew to $4.4 billion and polished diamond sales stood at $95.3 million.
In the second half of the year the company increased its sales despite an 8% decline in production because it optimized its stocks at a time when there was reduced buying activity in the low-priced product segment and destocking at multiple Indian midstream companies.
“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,” said Evgeny Agureev, director of united sales, ALROSA.