ALROSA said recently that is continuing with its “unprecedentedly flexible conditions” vis-a-vis its regular customers, for the third trading session in a row – that is, for the June trading session. The Company thus hopes to maintain equilibrium for the diamond industry, in what it sees as “a difficult period for the market”.

“As in the two previous trading sessions in April and May, the company allows customers to refrain from purchases by transferring the contractual volumes of June to subsequent periods of the year,” ALROSA stated.

However, those customers who wish to purchase rough diamonds in June, can do so through the digital format. In order to facilitate such customers, ALROSA has shared comprehensive information about the diamonds available.

The Company remarked that further to its aim of maintaining equilibrium in the diamond supply chain in difficult conditions, ALROSA is following the “price over volume” strategy. By reducing sales of rough diamonds, it aims to prevent overstocking of the market; while the long-term potential of the diamond market is strengthened.

“The experience of previous crises shows that a responsible approach to sales is the main way to bring market recovery closer,” commented Evgeny Agureev, Deputy General Director of ALROSA. “Obviously, given the current market uncertainty, it would be short-sighted to maximize short-term profit at the cost of damage to the industry as a whole. For the third consecutive session, we give our customers the opportunity to transfer the volumes stipulated by the contracts to subsequent periods of the year. Regular feedback from our customers and the development of the situation in the middle segment of the diamond pipeline testify to the justification of this strategy. We remain committed to a balanced sales policy and will use all the tools at our disposal.”

ALROSA stressed that it is constantly working on measures to support its customers during this difficult period caused by the outbreak of the coronavirus pandemic and the resultant restrictions. In pursuit of this, the company held a digital tender in May with a vast offering. “After analysing the needs of customers, ALROSA offered its long-term customers a choice of more than 800 digitised diamonds from 5-10 carats boxes, substantially finalising its digital trading platform,” the Company noted.