Alrosa sales rebound to $472M in May


Alrosa’s diamond revenues for May jumped 33% year on year to $472.1 million, the Russian miner reported last week.

Rough-diamond sales amounted to $467.6 million for the month, while polished revenue was $4.5 million. For the January-to-May period, sales fell 5% to at least $2.13 billion, of which $2.09 billion was from its rough business and $44.3 million was from polished.

Alrosa vice president Yury Okoemov attributed the decline in overall sales to a higher proportion of lower-value goods during the beginning of the year. Between January and April, revenue slid 12.5% to $1.7 billion as the company sold off those diamonds, following a period of lower demand in November and December due to India’s demonetization policy.

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Source Rapaport