Industry News by Nemesis

Alrosa Sales Rise in Strong Rough Market

July 10, 2018

 

Alrosa’s sales climbed 7% to $390.3 million in June amid robust demand for rough diamonds, the miner said Tuesday. 

“In the second quarter, there was almost no noticeable seasonal drop traditional for this period,” said deputy CEO Yury Okoemov. 

Rough-diamond sales increased 8% year on year to $383.7 million for the month, while polished revenue dropped 38% to $6.6 million. 

Alrosa raised prices of higher-value rough at its June contract sale, dealers reported. Demand was also strong at De Beers’ June sight, where prices were mainly stable, with increases in certain larger categories.

Alrosa’s sales grew 8% to $2.69 billion in the first six months of the year. Revenue from rough stones advanced 8% to $2.64 billion for the period, while polished-diamond sales fell 9%.

 

Source: Rapaport

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