(PRESS RELEASE) In line with its approach of fostering long-term sustainable development of the diamond market, ALROSA gives its customers an opportunity to adjust their diamond purchase schedules under trading sessions.
The demand for rough diamonds in early 2022 as well as in the second half of 2021 was outstripping supply, as cutters were actively buying rough to restock and fulfill the orders placed by jewelers and retailers.
Given the primary importance of a balanced market and the need to meet the real-backed demand, ALROSA offers its long-term customers a new option to adjust supply schedules between trading sessions. As a result, holders of long-term contracts can buy rough diamonds from their allocations ahead of the schedule by shifting booked volumes to an earlier date.
“The first quarter of the year is traditionally a period of active rough diamond purchases, as cutters seek to stock up after a holiday season in retail. The high season of 2021 was one of the most successful ones in the entire history, as we see robust demand from our customers underpinned by real orders. By reaffirming its commitment to a prudent and balanced policy aimed at sustainable progressive growth of the industry, ALROSA offers its customers a new option of adjusting diamond purchase schedules within their allocations by requesting the part of the booked rough diamond volumes to be moved to an earlier date. We believe that this innovation, together with the Gokhran auction slated for late February 2022, will speed up progress in addressing current market deficit. With the same goal in mind, we will hold an additional tender between trading sessions. We will offer the rough diamonds highly sought-after by cutters as soon as these goods leave the work-in-progress,” said Evgeny Agureev.
Long-term contracts for a 3-year period with major jewelry holdings, cutters, traders, and consumers of industrial diamonds make up the core of ALROSA’s sales system and traditionally account for the largest part of the company’s turnover. ALROSA makes special efforts to guarantee responsible business practices across the diamond production chain. All of the company’s long-term customers comply with ALROSA Alliance Guidelines on Responsible Business Practices, which rely on the Russian laws and regulations, key United Nations documents and best initiatives focusing on the industry-wide implementation of responsible business practices.
