ALROSA December Sales Hit By India's Demonetization, 2016 Sales Up 26%
January 11, 17
(IDEX Online) – Russian diamond miner ALROSA sold $173 million of rough goods and $3.3 million of polished stones in December.
However, preliminary figures indicate that rough and polished diamond sales for all of 2016 were 26% higher compared to the similar period of 2015.
"Sales results in December in the small-size segment still reflect the weakening of small and middle-size Indian diamond-cutting companies due to the monetary reform underway," said ALROSA Vice President Yury Okoemov. "Activity in other market segments corresponded to the seasonality of demand and our expectations."