ALROSA President Fyodor Andreev and the Company’s management held an annual meeting with long-term customers in Antwerp on 1 December, to present the company’s preliminary 2012 results and discuss current diamond market trends.
Participants discussed long-term sales in light of the Regulations on the Procedure and Terms of Sales of Natural Rough Diamonds, approved by ALROSA in 2012. They noted positive improvements in sales procedure transparency, and unified conditions of access to rough diamonds.
The meeting heard how demand for rough diamonds is gradually recovering after weakening in mid-2013. Despite the volatility of recent years, market experts now assume that a growing demand for polished diamonds, added to a decrease in world supply, will be the fundamental growth drivers for rough diamond prices in the medium term.
For their part, the ALROSA’s clients emphasized the need for generic marketing efforts aimed to stimulate diamond jewelry demand, as well as the necessity for a clear regulatory framework covering synthetic diamonds.