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Alrosa Benefits from Rough Market Recovery
Dec 11, 2017 4:03 AM
By Rapaport News
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RAPAPORT... Alrosa’s sales spiked in November as the rough-diamond
market recovered from a downturn it had experienced a year earlier.
Sales grew 36% to $334.2 million compared with November
2016, when the Indian government’s demonetization policy negatively impacted
liquidity and damaged rough demand, especially in the lower-value categories.
Rough sales amounted to $325.8 million last month, while polished sales stood
at $8.4 million, the Russian miner said last week.
“Sales in November were consistent with our expectations,”
Alrosa vice president Yury Okoemov said.
“The core sales markets displayed strong demand for rough diamonds.”
In the first 11 months of 2017, the miner sold $4.03 billion
worth of diamonds, with $3.94 billion of its revenue coming from rough and
$87.4 million from polished. The company did not provide comparative figures
for last year. |
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Tags:
Alrosa, Demonetization, India, Liquidity, Rapaport News, Rough Diamonds, rough sales, Yury Okoemov
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