DIAMONDS: Alrosa’s June sales drop 76%

RUSSIA - Diamond producer Alrosa on Friday said its sales of rough and polished diamonds sales stood at US$31.3 million in June, down from US$222 million for the same period last year. Sales in May totalled US$40.1 million. Six months 2020 total sales reached US$991.1 million, including US$955.3 million from rough diamonds sales, and US$35.8 million from polished diamonds. “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 unprecedentedly flexible sales conditions, including the opportunity to defer purchasing contracted volumes,” said 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.”