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Alrosa Sees Stable June Rough Market

by Klim Brik 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.

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.