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Alrosa's September diamond sales down YOY to US$258.7M

PJSC Alrosa said Oct. 10 that its September diamond sales totaled US$258.7 million, with rough diamonds accounting for US$256.5 million.

Sales fell from US$338.7 million a year ago but grew from August sales of US$181.2 million.

The growth in September sales compared to the previous three months was partly attributed to the traditional fall market revival after the holiday period and a slight increase in demand from Indian cutters and polishers ahead of the Diwali festival.

Meanwhile, executive committee member Evgeny Agureev was named deputy CEO.

"The market is still facing low demand for rough diamonds, though there has been a gradual recovery for some categories of diamonds. We still believe that it will take some time to get a balance between supply and demand," Agureev said.

Total sales reached US$2.42 billion over the first nine months of the year, slumping from US$3.66 billion a year ago.