Alrosa's Recovery Continues with October Sales of $310m

By John Jeffay / November 10, 2020 / www.idexonline.com / Article Link

(IDEX Online) - Alrosa's recovery continued last month with total sales of $310m even though it effectively canceled its trading session.That was 17 per cent up on the same month last year. In September the Russian miner reported totals sales of $336m, up 23 per cent year-on-year and in August it sold $216m, up 16 per cent on the same month in 2019.It canceled the October trading session to avoid over-supplying the market. The sales figures comprises part of September's trading session and auctions held during October."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," said deputy CEO Evgeny Agureev. Alrosa rolled its October and November trading sessions into one as part of what it calls a "rhythmical" offering of goods.  It said the sales were no longer inextricably tied to specific calendar months.Dismal performances from April to July will severely dent annual sales at Alrosa. The 2019 total was $3.34bn. So far during 2020 it has sold $1.89bn.Pic courtesy Alrosa

Recent News

Bullish bankers and bearish institutions split on gold forecasts

July 01, 2024 / www.canadianminingreport.com

Gold stocks down on flat metal price and mixed equities

July 01, 2024 / www.canadianminingreport.com

Snowline Gold reports Initial Resource Estimate

June 24, 2024 / www.canadianminingreport.com

Inflation subsiding and rate cuts starting internationally

June 24, 2024 / www.canadianminingreport.com

Inflation rebound continues to reverse

June 17, 2024 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok