Industry News by Nemesis

ALROSA Expects Polished Demand to Grow 1-2% This Year

February 8, 2016

Demand for polished diamonds may grow by 1-2% in 2016, Andrey Zharkov, President of ALROSA told reporters in Mumbai, according to Bloomberg.


Andrey Zharkov also reiterated his position expressed in an interview to Interfax on January 21, 2016 that currently there were no reasons to correct rough prices.


ALROSA's revenue this year will stay flat at the level of the last year, i.e. about $3.5 billion, the president of the company said.


In 2015, polished prices fell, as manufacturers produced excessive amounts of polished goods.


Their rate of return was under threat due to slowing demand in emerging markets and higher prices for rough compared with polished prices.


In 2015, the RapNet Diamond Index (RAPI) for certified one-carat diamonds dropped by 5.8%, while RAPI for three-carat diamonds fell by 14.5%.


Prices for rough diamonds produced by ALROSA decreased by 15% in 2015.


Source: Rough&Polished

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