Alrosa Sales Up in December

RAPAPORT... Alrosa noted strong sales in December as buyers sought goods to replenish their stocks. Proceeds increased 38% year on year to $328.7 million, the miner said Friday. Rough-diamond sales rose 42% to $323.7 million, while polished revenue dropped 47% to $5 million, according to Rapaport calculations. Sales value was also 20% higher than in November due to a "flexible pricing policy, against the background of seasonal renewed demand and replenishment of stocks" by manufacturers, added Evgeny Agureev, director of Alrosa's United Selling Organization. The company did not explain how pricing had changed. The cutting sector often uses December and the early part of the new year to buy rough after working down inventories ahead of the US holiday season. Demand from polished dealers and retailers tends to rise in the first quarter as they look to replace the diamonds they sold during the festival period. Alrosa's sales climbed 6% to $4.51 billion for the full year as the miner sold goods from its inventories to compensate for an 8% decline in production to 36.6 million carats, the company said. Revenue from rough diamonds grew 6% to $4.41 billion, while polished sales slipped 2% to $95.3 million, Rapaport calculations show. Image: Diamond sorting at Mirny. (Alrosa)