10 Aug 2017 11:37

Alrosa cuts July diamond sales 20% to nearly $294 mln

MOSCOW. Aug 10 (Interfax) - Alrosa sold $293.5 million worth of rough and polished diamonds in July, the company said in a press release.

This is 19.6% below the June figure.

Rough diamond sales amounted to $286.1 million and polished diamond sales to $7.4 million.

Rough and polished diamond sales amounted to $2.79 billion in January-July 2017. Rough diamonds were sold for $2.728 billion and polished diamonds for $62.3 million.

"In July, there was a seasonal drop in demand on the market in the run up to August holidays. A good demand for rough diamonds with an upward trend in prices was demonstrated in the first half of the year. The company cut down the stock accumulated by the start of the year," said Alrosa Vice President Yury Okoemov.