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Experts say lower sales in the diamond market

Experts say lower sales in the diamond market
Photo: pixabay.ru
FINAM investment holding specialists announced a decrease in sales in the diamond market. This trend was noted earlier, but now the situation has worsened due to the outbreak of a new coronavirus in China. Jewelers have lost sales and are forced to cut back on the purchase of stones to replenish supplies.

According to analysts, in real terms, diamond sales fell by 12%, to 33,4 million carats, in money terms - by 26%, to 3 million US dollars. The decline continues amid renewed production growth in 338 by 2019%. 

Last year, in order to maintain the attractiveness of stocks, the world's largest diamond producer ALROSA again revised its dividend policy. In the first half of the year, 100% FCF was spent on dividends. EBITDA margin remains one of the highest in the market, but the decline in sales causes concern among experts.
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