News

Advanced Search

Large Stones Boost Alrosa Sales

Oct 10, 2018 9:15 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT...
Alrosa’s sales climbed 9% year on year to $338.7 million in September due to strong demand for large stones, the miner said Wednesday.

Higher sales in the 2-carat-plus and 10.8-carat-plus categories boosted the overall result, Alrosa deputy CEO Yury Okoemov explained. Demand for cheaper goods declined — a common trend at this time of year as Indian factories buy less rough in preparation for closing for Diwali, the Russia miner added.

Rough-diamond sales jumped 8% to $331.6 million for the month, according to Rapaport calculations, while polished revenue surged 82% to $7.1 million.

In the first nine months of the year, sales rose 9% to $3.66 billion. Revenue from rough stones grew 9% to $3.59 billion for the period, while polished-diamond sales went up 9% to $74.1 million.

Alrosa also said it was launching a project to reduce the time lag between extraction of diamonds and their reaching the market. The miner expects the project to decrease its work-in-progress inventories — the value of its goods that are not yet available for sale — by more than $100 million in 2018, it said.

Image: Diamond sorting. (Alrosa)
Tags: Alrosa, Rapaport News, Rough-diamond sales, Yury Okoemov
Similar Articles
DiamcorProduction Drop Hits Diamcor Sales
Dec 02, 2018
Diamcor’s sales fell in the second fiscal quarter as lower production at its mine in South Africa resulted
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2018 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.