Diamonds: A cocktail of optimism, pessimism in the midst of Covid-19 pandemic

Rough & Polished’s Mathew Nyaungwa recently attended a webinar organised by CIBJO Communications to examine consumer demand at the time of the Covid-19 pandemic, importance of data, financial models and lab grown diamonds. The webinar, chaired by Edward...

10 august 2020

How Russkiye Samotsvety is coping with the current downturn

One of the key issues facing most Russian companies today is the need for an objective assessment of the new consumption decline due to the quarantine, as well as making forecasts for a way out of it. According to a RBC-Petersburg’s study made in June...

03 august 2020

Global rough diamond sales down 80-90% in value in Q2 –Zimnisky

The COVID-19 pandemic, which is spreading across the globe, having originated from China’s Wuhan has left diamond traders and buyers at sixes and sevens. Traditional diamond tenders were cancelled around March as governments imposed travel restrictions...

27 july 2020

Indian diamond and polishing industry requires forward integration - Dinesh Navadiya

Dinesh Navadiya is now the Regional Chairman (Gujarat Region) of The Gems & Jewellery Export Promotion Council (GJEPC) of India for the 3rd term. He is also the Director on the Board of the Gem & Jewellery Skill Council of India (GJSCI)...

20 july 2020

GJEPC will focus on demand generation for diamonds and jewellery in the next two years

Mr. Vipul P Shah, Vice Chairman, GJEPC and also CEO & Managing Director of Asian Star Co. Ltd. has a rich experience in the diamond industry. His business acumen and professional conduct have contributed significantly in transforming a diamond manufacturing...

13 july 2020

ALROSA cut diamond sales by 38% in August compared to last year

10 september 2019

 
alrosa_logo.jpgIn August 2019, ALROSA Group sold diamond products worth $181.8 million, which shows a 38% decline compared to the previous year, when the company sold its products worth $294.9 million. Diamond sales in value terms amounted to $180.2 million, which is one and a half times lower than last year, while diamond sales also fell by 87%, to $1.5 million.
In total, in January – August 2019, ALROSA sold diamond products worth $ 2,163.6 million, which is also lower than the previous year's figure of $ 3.323 billion.During the eight months of 2019, rough diamonds were sold for $2,129 million, polished diamonds – for $34.6 million.
“The diamond market is still experiencing headwinds from both macroeconomic and industry specific factors, which have an adverse impact on the midstream. There is also a seasonal slowdown weighing on the summer sales, commented Evgeny Agureev, Director of the United Selling Organization ALROSA, member of the Executive Committee. – Meanwhile, for the first time since 2010, August sales were higher than in July – mainly due to the replenishment of stock by diamond cutters and polishers. Besides, a regular trade session in August started later than usual, so that some sales recognition were moved to September. It is still too early to come to firm conclusions based upon it. However, we are still expecting that after a significant decrease in rough diamond supply by major diamond producers since the beginning of the year, the excess stock in the system is decreasing. This will help to restore supply and demand balance which should not take too long.”