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Steady Rough Market Boosts Alrosa Sales

July revenue up 16% due to less-pronounced summer slowdown than a year ago.
Aug 12, 2018 6:03 AM   By Rapaport News
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RAPAPORT... Alrosa’s sales climbed 16% year on year to $339.1 million in July as rough demand remained strong despite the summer lull, the miner said Friday.

“Compared to last year, demand for rough diamonds remains more balanced — almost all diamond categories benefit from continued demand in key markets globally,” said Alrosa deputy CEO Yury Okoemov. “In July, there was a minor seasonal softening on the market in the run-up to [the] August holidays, but [it was] not as intensive as last year.”

Rough-diamond sales jumped 17% year on year to $333.8 million for the month, according to Rapaport calculations, while polished revenue dropped 28% to $5.3 million.

In the first seven months of the year, sales increased 9% to $3.03 billion. Revenue from rough stones climbed 9% to $2.97 billion for the period, while polished-diamond sales fell 11% to $55.3 million.

Image: Alrosa
Tags: Alrosa, Rapaport News, rough demand, Rough-diamond sales, Yury Okoemov
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