Due to the sharp drop in prices of 25-30%, representatives of large diamond companies, including ALROSA and De Beers, began to take a number of steps to restore the prices of stones. This was reported by Bloomberg.
The cost of rough stones has fallen by almost 30 percent since the beginning of this year.
For example, diamond company De Beers began to show flexibility and removed restrictions on contract terms. The company management expected that such a drastic measure would allow the sale of precious stones worth $ 400-500 million. However, during the latest transactions, the total transaction amount amounted to only $80 million.
Russian diamond mining companies ALROSA group suspended the sale of stones for two months in the autumn at the request of India, the agency announced. As a result of the cessation of offers and concessions to buyers, the decline in prices also stopped.
“We expect some cyclical recovery in diamond markets,” added Christopher LaFemina, an associate at US investment bank Jefferies.
Before that, it was known that there was Russia. occupied for the first time More than a third of the world diamond production market.
Formerly Central Bank of the Russian Federation raised key rate up to 15%.