Alrosa Reports September Sales of $298m - Lowest of 2021
October 11, 21
(IDEX Online) - Alrosa today reported rough and polished sales of $298m (preliminary) in September as consumer demand reached a "record high".
The Russian miner said the US and China had demonstrated double-digit growth compared with 2019, and sales in Europe were gaining momentum.
By comparison, sales for pre-Covid September 2019 were $259m and for September 2020 they were $336m.
Alrosa has been topping up its inventory with rough from the state-run Gokhran as it struggles with record low stockpiles.
Sales for September - traditionally a quiet month - were the lowest so far this year, down from $334m in July and $306m in August.
"The rough diamond price index has returned to the 2018 levels, with polished diamond prices surpassing the 2018 average," said deputy CEO Evgeny Agureev.
"Alrosa maintains its policy of satisfying only requests backed by the real demand to ensure sustainability of the whole diamond pipeline.
"Our clients are mostly optimistic about the upcoming festive season, and we expect the positive trend to continue into 2022."
Pic courtesy Alrosa