Alrosa Sees Stable June Rough Market
by
Klim Brik
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last modified
Jul 12, 2017 12:20 PM
Jul 11, 2017 4:04 AM By Rapaport News
RAPAPORT... Alrosa sold $365 million worth of diamonds last month amid a steady rough market, the Russian miner reported Monday. http://www.diamonds.net/news/NewsItem.aspx?tc_dailyemail=1&ArticleID=59067
Revenue for June included $354.4 million from rough sales and $10.6 million from polished, the company said.
“We consider the existing rough diamond market environment to be stable, though we saw a seasonal slowdown by the end of June,” said Alrosa vice president Yury Okoemov.
First-half sales stood at $2.5 billion, with rough-diamond proceeds amounting to $2.44 billion — a 4% decline from the previous year, according to Rapaport calculations. Strong rough demand enabled Alrosa to reduce its inventory during the six-month period, with many of these stockpiles comprising smaller, lower-value diamonds, the company previously reported.
