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Alrosa Sales Slide Amid Shifts in Demand
May 11, 2017 8:47 AM
By Rapaport News
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RAPAPORT... Alrosa's sales fell in April and for the first four
months of the year as the Russian miner sold a larger volume of low-value rough diamonds than it did last year.
Rough sales declined to $310.2 million in April, the company reported Wednesday. This represented a 45% slide from a year ago,
according to Thursday estimates from VTB Capital.
During the January-to-April period, revenue from rough diamonds dropped 12.5% to $1.7
billion, even as sales volume jumped 7% to 16.9 million carats.
Alrosa noted that it had started 2016 in a buoyant fashion, selling high-value rough from its stockpiles. However, in the first four
months of 2017, a larger proportion of the goods sold were small,
lower-priced stones, the miner explained.
“Taking into account the positive trends in the downstream
segment of the diamond market, [such as] the recovery in Asian diamond-jewelry
sales in the year to date, we do not rule out stronger [Alrosa] sales in May
and June,” VTB commented.
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Tags:
Alrosa, mining, Rapaport News, Rough Diamonds, rough sales, Russia, VTB Capital
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