Russian diamond giant ALROSA's total rough and polished diamond sales in January-December 2019 amounted to $3.338 billion.
For all of 2019, rough diamond sales totaled $3.273 billion, while polished diamond sales amounted to $64.7 million.
In December, ALROSA sold $363.8 million worth of rough and polished diamonds (+11%YoY). Rough diamond sales by value amounted to $352.1 million, while polished diamond sales were $11.6 million.
"In December, we observed signs of stabilising diamond demand that had emerged earlier in the second half of the year amid the gradual restoration of market balance. This was largely supported by a flexible sales strategy of mining companies," said ALROSA Deputy CEO Evgeny Agureev.
"Cutters and retailers entered 2019 with large stocks of goods, but their expectations of strong demand did not match the reality. Along with a number of other factors, this triggered a massive destocking while also hitting the demand for rough diamonds.
"As a result, 2019 saw sales by diamond producers drop by almost a third from the previous year. At the same time, there is robust demand for jewellery from end consumers. The preliminary data on Christmas sales shows its year-on-year growth in some regions. This proves that diamond jewellery remains a key way of expressing one's special feelings."
ALROSA Group rough and polished diamond sales in 2019
Rough diamonds and grinding powders,
Total rough and polished diamonds, $ mln
*Including rough diamonds sales to Kristall Production Corporation
** Excluding sales of polished diamonds produced by Kristall Production Corporation