Steady Rough Demand Boosts Alrosa Sales

RAPAPORT... Alrosa's sales climbed 16% year on year to $339.1 million inJuly as rough demand remained strong despite the summer lull, the miner saidFriday. "Compared to last year, demand for rough diamonds remainsmore balanced - almost all diamond categories benefit from continueddemand in key markets globally," said Alrosa deputy CEO Yury Okoemov. "In July,there was a minor seasonal softening on the market in the run-up to [the] Augustholidays, but [it was] not as intensive as last year." Rough-diamond sales jumped 17% year on year to $333.8million for the month, according to Rapaport calculations, while polished revenue dropped 28% to $5.3 million. In the first seven months of the year, sales increased 9% to$3.03 billion. Revenue from rough stones climbed 9% to $2.97 billion for theperiod, while polished-diamond sales fell 11% to $55.3 million. Image: Alrosa