ALROSA will allow its customers to refrain from buying rough diamonds during its third trading session in a row, deferring June contract volumes to subsequent periods of the year due to difficult market conditions, as per the company’s press service. Clients interested in purchasing diamonds in June may request the goods they need, getting all the required information and choosing rough remotely.
In order to keep the balance of the diamond chain during challenging times, ALROSA pursues ‘price over volume’ strategy, preventing oversupply by reducing sales volumes and strengthening the long-term potential of the diamond markets.
“The history shows that responsible approach to sales is the main way to accelerate market recovery after a crisis. Surely, under current market uncertainty maximizing short-term incomes at a cost of an overall market deterioration would be unwise. This is a third session at which we give our customers an opportunity to defer contracted volumes to the subsequent periods of the year. The regular feedback from our clients and overall situation in a midstream diamond segment show that this strategy is well proven”, commented ALROSA Deputy CEO Evgeny Agureev. “We are committed to the prudent sales policy and will use all available instruments to maintain supply and demand balance and normalize cutters’ level of inventories.”
Victoria Quiri, Correspondent of the European Bureau, Rough & Polished, Strasbourg
