The diamond miner’s total sales of rough and polished diamonds in June amounted to $ 31.3 million, including $ 24.8 million in rough sales and $ 6.5 million in polished sales, according to its trading update released on Friday.The fall in sales started in March, when ALROSA earned $ 152.8 million (compared with $ 405 million in January and $ 346.4 million in February). In April, the diamond miner pulled in $ 15.6 million (the lowest figure this year), and in May - $ 40.1 million.
ALROSA gained a total of $ 991.1 million in the first six months of 2020 (versus $1 811 last year). The company’s rough sales in January to June amounted to $ 955.3 million, and polished sales were at $ 35.8 million.
“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,” commented 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.”
