Coronavirus outbreak has led to diamond sales decrease
Yakutia 24 TV channel: ALROSA Diamond Company says that an outbreak of coronavirus infection and a decline in demand for jewelry in mainland China and Hong Kong have led to a decrease in sales of certain categories of diamonds.
“Right after the crisis of 2019, the diamond industry has faced a new challenge that could not be foreseen in advance. The outbreak of novel coronavirus in China and the anti-epidemic measures provoked by it all over the world are the “black swan”, a sudden event with significant consequences, extremely difficult to be predicted,” says ALROSA Deputy General Director Evgeny Agureev.
According to him, the company decided to discuss the situation with customers before the March session in order to understand their needs and develop solutions that will help maintain equilibrium in the market. At a working meeting with representatives of the Antwerp World Diamond Center (AWDC), the experts agreed that the global diamond industry had entered 2020 much more prepared than it was before the industry crisis in 2019.