Trafigura rattles zinc market with huge order for LME metal
Orders to withdraw zinc from warehouses overseen by the exchange have surged by 97,225 tons over the past two days.
Russia’s Alrosa (MCX:ALRS), the world’s top diamond producer by output in carats, is painting a “bright” outlook for the market and expects demand to start exceeding supply after 2019.
Reviewing its 2015 results, the company said output climbed to 38.3 million carats, a 6% increase when compared to the previous year, thanks mainly to improvements at its Mir and Udachny underground mines, as well as the commissioning of Karpinskaya-1 and Botuobinskaya pipes and other high-potential deposits.
Alrosa, which together with De Beers controls almost two-thirds of the diamond market, also saw its reserves grow last year to 43.6 million carats.
Alrosa, which together with De Beers controls almost two-thirds of the diamond market, also saw its reserves grow last year to 43.6 million carats.
Despite poor global diamond market conditions, the Russian giant sold 3.8% more rough diamonds and increased sale proceeds by 8%, having reached $3.4 billion (RUB 224.5bn).
The miner, 44%-owned by Russia with the republic of Yakutia holding 25% and its municipal districts another 8%, said its current market capitalization now exceeds $6.2 billion (RUB 412bn).
The diamond miner, along with fellow Russian firms Rosneft and Bashneft are among the most likely candidates for privatization this year, Economic Development Minister Alexei Ulyukayev said in February.
Comments
Altaf
I dont share the same enthusiasm with Alrosa.
1. Demand is either stagnant or at the most growing at a ordinary pace.
2. Diamond production is going up.
3. Synthetic diamonds are eating into natural diamond market share.
4. Colored gems are growing in demand at a higher pace than diamonds which again eat into diamond market.