Mining giant Alrosa’s sales of rough and polished diamonds reached US$222.4 million in June, bringing its first-half revenues to US$1.81 billion.
Rough diamond sales during the period in review amounted to US$219.3 million while polished diamond sales were US$3.1 million.
January to June figures meanwhile showed rough diamond sales hitting US$1.78 billion and US$27.3 million for polished diamonds.
Evgeny Agureev, director of the United Selling Organization Alrosa, said the company implemented a “balanced sales strategy” amid excess diamond stock in the market as well as financing challenges in the Indian diamond business.
“The market is gradually entering a phase of seasonally low demand for rough diamonds, which also weighs on industry sales. We expect demand for rough diamonds to improve by the end of the third quarter,” he noted.
Jewellery demand from end-consumers is also expected to stabilise, which in turn, could boost overall sales of rough diamonds around Christmas, Agureev continued.