Alrosa has decided to move its April trading session from 12th to the 19th, to support the established rough diamonds market balance. The forthcoming session under long-term agreements was scheduled to start on 12th April.
Evgeny Agureev, Deputy CEO of Alrosa, said, “We are glad to see the continuing recovery of the industry with our clients expressing sustainable interest in purchasing our goods. However, in our view it is very important to keep the rough diamonds supply and demand balanced under current circumstances.
“To maintain the market balance and avoid excessive stocks accumulation, clients should have ample time to process and sell the goods they have purchased earlier. This is why we decided to shift our forthcoming trading session by one week from the initial schedule, so it will start on April 19, 2021.”
Diamond sales under long-term contracts typically account for about 70% of Alrosa’s total revenue. Trading sessions are usually held about once a month. Apart from them, Alrosa also arranges spot market sales, auctions and tenders.
Since July 2020, Alrosa has provided its clients with maximum flexibility as it prioritised market equilibrium following the trade slump caused by Covid-19 in Q2-Q3 2020.