ALROSA rakes in $216.7 million from diamond sales in August

ALROSA announced its diamond sales for August and eight months of 2020 in a press release distributed on Thursday.
Sales of rough and polished diamonds in August increased to $216.7 million, including proceeds from rough diamond sales of $202.1 million, and polished diamond sales of $14.6 million.
For eight months of 2020, total rough and polished diamond sales accounted for $1,244 million, including $1,180 million of rough diamond sales and $63.6 million of polished.
“Given that demand for diamond jewelry is gradually recovering in recent months, specifically in the U.S. and China, and diamonds’ stock levels keep declining at both retail and midstream, we see the demand for rough diamonds is picking up, which is a good sign as we approach seasonal growth in market activity in Q4. Hopefully, the support we offered our long-term clients in March-August has a positive effect on restoring the supply/demand balance and helps the diamond market to overcome the most challenging period,” said Evgeny Agureev, Deputy CEO of ALROSA.