Alrosa Sells $3.15B worth of Diamonds, Sticks by $5B 2011 Outlook

(IDEX Online News) – The Alrosa Group sold some $3.15 billion worth of rough and polished diamonds during the first eight months of 2011, the company revealed Monday.

Alrosa reported "a certain" price correction in some assortment categories of rough diamonds, primarily due to a sharp reduction of speculative pressure on the market, according to the firm.

Despite the price declines, the company maintains its rough and polished diamond sales forecast of $5 billion for the year.

The Russian diamond giant pinned the price declines on speculative pressure on the market, noting however that the overall volume of demand is stable.