Image credit: ALROSA
Sales of rough and polished diamonds in October totaled $310.0 million, including proceeds from rough diamond sales of $299.3 million, and polished diamond sales of $10.7 million.
For ten months of 2020, total rough and polished diamond sales accounted for $1,890 million, including $1,808 million of rough diamond sales and $82.1 million of polished, according to a press release. .
“In October, demand for rough and polished diamonds continued its gradual recovery, a trend seen since August, as cutters and jewelry retailers replenished their stock of end products and raw materials before the festive season. ALROSA has responded to a changing market environment and customer demands by altering the usual rhythm of its monthly trading sessions, making them no longer inextricably tied to specific calendar months,” Evgeny Agureev, Deputy CEO of ALROSA, commented.
According to him, “it means that our results for October reflect some of the previous trading session, which carried over from September to the first half of the following month”.
As you may remember, this is what prompted us to pool the October and November trading sessions together, with the latter already in progress. The October figures also include auction sales in that month. In any event, ALROSA’s sales policy is still based on a responsible approach seeking to meet the end confirmed demand from our customers,” Agureev said.
Alex Shishlo for Rough&Polished
