Alrosa Sales Rise in December

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