ALROSA September 16, 2020 - ALROSA maintains the most flexible conditions during September trading session for its long-term clients, aiming to nurture the green shoots of market recovery.
Confirming its commitment to responsible and prudent approach to sales, ALROSA keeps unprecedentedly flexible conditions for rough diamond buyers during the forthcoming trading session, which will take place from September 21 to 25.
In August and early September, there were evidence of the revival of the demand for rough diamonds after several months of COVID-induced pause. Nevertheless, the market has not reached a balance yet. Together with a risk of a new wave of the disease, this means that all industry participants must remain cautious and responsible.
With this in mind, ALROSA maintains a zero buyout obligation during this trading session for ALROSA ALLIANCE members similarly to August and July in order to avoid pressuring the market. Moreover, as the speed of the demand recovery varies across the product mix, the company, just like in August, gives its clients an opportunity to request only the goods they need. Long-term agreements traditionally cover about 70% of ALROSA's overall sales.
'During the last month we clearly see the growing demand for rough diamonds as cutting and polishing factories in India are ramping up and revived Chinese jewelry sales' dynamics is encouraging. On the other hand, there is still an uncertainty related to the risk of the new wave of counter-COVID restrictions as well as to consumer sentiment. This is why we would be able to talk about the full-scale market recovery only based on the results of the key holiday season in the USA. In this situation we maintain our commitment on supplying the real demand and holding back the speculative trade,' commented Evgeny Agureev, Deputy CEO of ALROSA.
During September trading session, clients may review goods either remotely, getting detailed specifications and expert videoconferences, or by visiting ALROSA's office with all COVID-preventive measures in place.
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ALROSA PJSC published this content on 16 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 September 2020 11:49:00 UTC
