Alrosa diamond sales fall on inventory shortages
Russian diamond major Alrosa has reported diamond sales of $306-million in August, comprising $297-million in rough sales and $10-million in polished sales.
This compares with total sales of $334-million in July and $410-million in June.
Total sales in carats were lower in August, owing to a lack of rough inventories available for sale, deputy CEO Evgeny Agureev said on Friday.
“This shortage was partially offset by the sale of diamonds purchased for long-term customers at a Gokhran auction in July. Going forward, we expect our supply of rough diamonds to stabilise as production recovers, enabling us to benefit from favourable market conditions,” he said.
Agureev added that robust demand from end consumers, combined with the persistent shortage of rough diamonds, would support positive price dynamics.
Earlier this week, diamond major De Beers said it had sold $515-million of rough diamonds at its seventh sale of 2021 – the biggest total for this time of year since 2016.
“At the same time, the robust demand from end consumers combined with the persistent shortage of rough diamonds will support a positive price dynamics,” he stated.
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