ALROSA’S management held a business breakfast with the company’s customers

On December 5, 2012, ALROSA’s President Fedor Andreev, the company’s management and long-term customers met in Moscow during a business breakfast to summarize the preliminary results of 2012, according to press release obtained by Rough&Polished.
ALROSA announced to its customers the Regulations on the Procedure and Terms of Sales of Natural Rough Diamonds by OJSC ALROSA agreed with the Federal Antimonopoly Service of Russia. The more detailed information about ALROSA’s sales policy can be found on the website www.sales.alrosa.info.
The meeting participants and invited experts discussed the prospects of development of the industry in the medium term, stimulation of demand for polished diamonds worldwide, impact of synthetic diamonds upon the market, certification of natural rough diamonds.
It was noted that despite of volatility on the natural rough diamond market in 2012, growth of demand for polished diamonds both on the traditional markets, first of all in the USA, and on the new markets, such as India and China, along with the objective cutting down of diamond mining in the medium term, is a fundamental driver for both the market and growth of rough diamond prices.
The company’s long-term customers noted ALROSA’s positive role as a market stabilizer in the period of recession and suggested that the major market participants make common marketing endeavors to stimulate demand for diamond jewelry in the world.
The buyers also noted that the current rough diamond prices are in line with polished diamond prices, which evidences of stabilized market conditions. Majority of the participants of the working breakfast believe that synthetic diamonds today pose no threat to the market from the consumer preferences point of view; however potentialities for more dynamic growth of demand for natural gemstones are obvious on the market.
These days the December trading session for ALROSA’s long-term customers is being held in Moscow.