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...

Yesterday

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's sales in June “were expectedly low”

10 july 2020
alrosa_logo.jpgThe diamond miner’s total sales of rough and polished diamonds in June amounted to $ 31.3 million, including $ 24.8 million in rough sales and $ 6.5 million in polished sales, according to its trading update released on Friday.
The fall in sales started in March, when ALROSA earned $ 152.8 million (compared with $ 405 million in January and $ 346.4 million in February). In April, the diamond miner pulled in $ 15.6 million (the lowest figure this year), and in May - $ 40.1 million.
ALROSA gained a total of $ 991.1 million in the first six months of 2020 (versus $1 811 last year). The company’s rough sales in January to June amounted to $ 955.3 million, and polished sales were at $ 35.8 million.
“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 an unprecedentedly flexible sales conditions, including the opportunity to defer purchasing contracted volumes,” commented 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.”