Alrosa’s June sales drop 76%
Russian diamond producer Alrosa on Friday said its sales of rough and polished diamonds sales stood at $31.3 million in June, down from $222 million for the same period last year.
Sales in May totalled $40.1 million.
Six months 2020 total sales reached $991.1 million, including $955.3 million from rough diamonds sales, and $35.8 million from that of polished.
“June sales were expectedly low, as we continue making every effort to maintain stability of the diamond industry and support our customers. In June, for the third time in a row, we offered our long-term customers an unprecedentedly flexible sales conditions, including the opportunity to defer purchasing contracted volumes,” said Alrosa deputy CEO Evgeny Agureev.
“Alrosa will use all its armor and resources to balance the supply of diamonds with confirmed demand and to avoid putting pressure on the market, which shows signs of recovery.”