Rough and polished diamond sales by Russian miner Alrosa hit $3.3 billion in 2019, with December figures registering an 11 percent year-on-year increase as the market gradually stabilises.
December sales were US$363.8 million, with rough diamonds accounting for US$352.1 million while polished diamond sales were US$11.6 million.
Alrosa Deputy CEO Evgeny Agureev commented, “In December, we observed signs of stabilising diamond demand that had emerged earlier in the second half of the year amid the gradual restoration of market balance. This was largely supported by a flexible sales strategy of mining companies.”
The year 2019 proved to be a tough year for diamond cutters and retailers due to excess inventory in the market, he added.
“As a result, 2019 saw sales by diamond producers drop by almost a third from the previous year. At the same time, there is robust demand for jewellery from end-consumers,” remarked Agureev. “Preliminary data on Christmas sales shows year-on-year growth in some regions. This proves that diamond jewellery remains a key way of expressing one’s special feelings.”