Alrosa has reduced prices of rough diamonds at this month’s trading session in the wake of similar discounts by De Beers, market insiders told Rapaport News.
The Russian miner’s cuts averaged around 10%, the sources said Tuesday, with estimates ranging from 5% to 15%. Its price movements are harder to gauge than those of De Beers, as many industry players have stopped buying from the company since Western sanctions on Russia began in 2022. Alrosa did not respond to a request for comment.
The change narrows the price gap between Alrosa and the open market, which had reached 20% to 25% for some categories, manufacturers said. While prices have fallen at tenders and auctions, Alrosa had — like De Beers — maintained a strategy of limiting volume rather than lowering prices.
Executives at Alrosa, which tends to match the pricing policies of its main competitor, traveled to trading centers in September to inform customers that it did not envisage reducing prices for the time being. Doing so would risk flooding the market with goods amid an oversupply in many polished categories.
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