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Alrosa Sales Surge on Strong China Demand

February proceeds were 35% higher than the previous year.
Mar 7, 2018 5:40 AM   By Rapaport News
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RAPAPORT... Alrosa’s sales soared 35% to $541.9 million in February, strengthened by significant demand ahead of the Chinese holiday season.

“In February, the core diamond markets were quite strong,” Yury Okoemov, deputy CEO, said Wednesday. “The diamond-cutting sector continues [to replenish] its stock. Demand for diamond products was also backed up by good jewelry sales in China on the eve of the Chinese New Year. Prices for diamonds in most size categories grew in January and February.”

Rough-diamond sales jumped 37% year on year to $532.8 million, while polished sales dropped 25% to $9.1 million in February.

Total sales for January and February combined were $1.05 billion, with rough yielding $1.03 billion for the period, and polished $14.6 million.
Tags: Alrosa, Chinese New Year, Polished Diamonds, Rapaport News, rough, Rough-diamond sales, Yury Okoemov
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