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Market NewsNewsAlrosa reports 32% drop in Sept sales vs previous yr

Alrosa reports 32% drop in Sept sales vs previous yr

Russian diamond major Alrosa sold $309.7 million worth of rough and polished diamonds in September – a 32% decrease on its sales in the same month last year, miningweekly.com reported.

Rough diamond sales amounted to $305.8 million and polished diamond sales to $3.9 million, compared with year-earlier sales of $435.1million worth of rough diamonds and $18.9 million worth of polished diamonds, the miningweekly.com report said.

"The decline in sales in September compared with the same month in 2016 is due to lower activity level in the market, particularly caused by the early beginning of the Diwali festival in India this year, for which reason many factories are closed for a long period,” Alrosa VP Yury Okoyomova said, according to the miningweekly.com report.

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