Industry News by Nemesis

Alrosa Said To Maintain Rough Diamond Prices in November

November 19, 2015

Alrosa left prices intact at its trading session that took place Nov. 11-13, representatives of two long-term customers of the diamond miner told Interfax. "Prices are on the same level," deputy general director for marketing and sales at the Smolensk Kristall company, Nikolai Afanasyev, said. Another representative of a long term Alrosa client confirmed this information.

 

The selection limit in Nov. was set at 30% compared to 50% a month earlier, as Alrosa softened contract conditions to let clients decline 70% of monthly diamond purchases. "The market mood remains negative," Afanasyev said, and he sees no hopes for renewed demand during the traditional timeframe for holiday sales in Q4, 2015, and Q1, 2016. "It would be nice if there will be one [renewed demand] next year. But it won't happen in Q1," he said.

 

Source: The Diamond Loupe

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