Rapaport reported that during its first two sales of 2016, ALROSA (MCX:ALNU) sold about $780 million worth of rough diamonds.
As quoted in the market news:
The Russia-based miner allowed its clients to reject up to 30 percent of goods at the latest tender without forcing them to pay a penalty or commit to buying the stones in the future, the source said. In January the rejection limit was 50 percent.
Clients in January bought well over the minimum they were required to purchase and demand sometimes exceeded supply for certain categories of rough, Rapaport Newsunderstands.
ALROSA declined to comment on the sales but confirmed prices were not adjusted.
A company spokesperson commented:
ALROSA kept rough prices stable in the February trading session. The company sees signs of a gradual recovery in demand for rough diamonds.
Click here to read the full Rapaport report.
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The post ALROSA Reports 2016 Rough Diamond Sales of $780 Million appeared first on Investing News Network.
