Industry News by Nemesis

Robust Demand Drives Alrosa Sales Jump

May 15, 2018

 

Alrosa’s sales grew 28% year on year to $405.3 million in April amid strong demand for goods and an optimistic market, the miner said. 

“In January to April, world markets saw consistent high demand for rough diamonds,” Yury Okoemov, deputy CEO of Alrosa, noted last week. 

Diamond trading slowed in April in line with seasonal trends, Okoemov explained. However, demand and sales were robust, supported by positive market sentiment and reports from retailers of strong sales, the executive added. 

Alrosa’s rough sales jumped 28% to $396.2 million for the month, while polished revenue rose 20% to $9.1 million. 

During the four months to April 30, sales increased 18% to $2.01 billion, including $1.98 billion of rough sales and $32.9 million from polished. 

Alrosa’s May contract sale will begin on Monday, as will De Beers’ fourth sight of the year. Those sales coincide with the Antwerp Rough Diamond Days, a trading event taking place in the Antwerpsche Diamantkring. 

Image: Alrosa

 

Source: Rapaport

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