Alrosa Sales Surge on Strong China Demand

RAPAPORT... Alrosa's sales soared 35% to $541.9 million in February,strengthened by significant demand ahead of the Chinese holiday season. "In February, the core diamond markets were quite strong," Yury Okoemov, deputy CEO, said Wednesday. "The diamond-cutting sector continues [to replenish] its stock. Demand for diamond products was also backed up bygood jewelry sales in China on the eve of the Chinese New Year. Prices fordiamonds in most size categories grew in January and February." Rough-diamond sales jumped 37% year on year to $532.8million, while polished sales dropped 25% to $9.1 million in February. Total sales for January and February combined were $1.05 billion, with rough yielding $1.03 billion for the period, andpolished $14.6 million.