|
|
ALROSA October Sales Hit $431M
Nov 15, 2016 9:57 AM
By Rapaport News
|
|
|
RAPAPORT... ALROSA said rough diamond sales totaled $430.8 million in
October as demand remained strong despite disruptions caused by the Diwali
festival in India. 
The revenue represents a decline from $435.1 million
a month ago but is still relatively high for this time of year. October is seasonally slower because Indian
manufacturers limit rough buying so they are not overstocked during the long
factories closures at Diwali time.
“Demand remained strong in October even on the threshold of
the holiday season during the celebration of Diwali in India – the largest
cutting and polishing center,” says Yury Okoemov, the Russian miner's vice-president (pictured).
Separately, ALROSA’s polished sales were $8.2 million,
meaning total diamond sales in October stood at $439 million.
This follows a report from rival diamond miner De Beers saying
the company sold
$470 million of rough in its November sales cycle, the smallest sight so
far in the year.
|
|
|
|
|
|
|
|
|
|
Tags:
Alrosa, De Beers, Diwali, India, Rapaport News, rough diamond, Rough Diamonds, Rough markets, Yury Okoemov
|
|
|
|
|
|
|
|
|
|
|