RapNet


Rapaport News

 

Mining

 

Advanced search
Latest Articles
Videos
Features
News
Mining
Rough Markets
Polished Markets
Manufacturing
Retail

Large-Stone Demand Drives Alrosa Sales

First-quarter rough revenue up 20%.
Apr 11, 2018 5:57 AM   By Rapaport News
Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT... Alrosa’s sales leaped 20% year on year in the first quarter, as demand for medium-sized and large rough diamonds strengthened.

Total sales for the three months ending March 31 rose to $1.61 billion, of which $1.58 billion was from rough sales and $23.7 million from polished.

“In January to March, world markets saw higher demand for medium- and large-size rough diamonds compared to the same period last year,” Alrosa deputy CEO Yury Okoemov said Tuesday.

In March, Alrosa’s sales fell 1.3% to $559.5 million compared with the same period a year ago, as the market showed signs of slowing after a buoyant first two months. Revenue from rough diamonds decreased 1% to $550.3 million, while polished sales slumped 27% to $9.1 million.

Manufacturers typically buy large quantities of rough in January and February to help retailers fill their post-holiday inventory gaps. Even so, March sales were higher than the previous month due to steady demand for larger stones.

“There was a slight seasonal cooling off in demand in March,” Okoemov added. “However, good results of special-size-diamond auctions — over 10.8 carats — ensured higher sales this month compared with February 2018.”

Image: Alrosa
Tags: Alrosa, mining, Rapaport News, Rough Diamonds, rough sales, Russia, Yury Okoemov
Similar Articles
Akil Zubir AlrosaAlrosa Names New Belgium Chief
Sep 21, 2020
Alrosa has appointed Akil Zubir as managing director of its Belgium...
Dominion to Sell Ekati Mine for $126M
Petra Recovers High-Quality Blue Diamonds
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First



Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
  
twitter twitter
About Rapaport
Advertise with us