Alrosa Rough Diamond Sales for First Four Months of 2017 Down 12.5% by Value Y-o-Y

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Alrosa

PJSC ALROSA yesterday announced that its total diamond sales for April 2017 amounted to US$ 317.8 million. Of this, rough diamond sales for the period reached US$ 310.2 million; and sale of polished diamonds stood at US$ 7.6 million.

The Company also announced sales figures for the first four months of the year, January–April, 2017.

In this period, ALROSA sold 16.9 million carats of rough and polished diamonds, an increase of 7% over sales achieved in the January-April 2016 period.

However, in value terms, rough diamond sales for this period amounted to US$ 1.7 billion, reflecting a decline of 12.5% year-on-year.

“The decline in sales in value terms compared to the same period last year is primarily caused by a high base of the first months of 2016, when the market started to recover from a challenging 2015 and a lot of expensive diamonds were sold from previously accumulated stocks,” said says Yury Okoemov, ALROSA Vice President. “The sales assortment structure has changed dramatically – in the first four months of 2017 the share of small-size, inexpensive rough diamonds was significantly higher than early in 2016. In general, this period can be described as a period of active restocking in the midstream against emerging recovery of growth in Chinese jewellery retail sales.”

News Source : gjepc.org

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Disclaimer: This information has been collected through secondary research and TJM Media Pvt Ltd. is not responsible for any errors in the same.

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