Only A 5% Mark Up at Alrosa Tenders

(IDEX Online News) – Bidders at Alrosa's rough diamonds tenders this week bought about 90 percent of the offered goods, paying on average 5 percent above the company's list price. The August 29-30 tenders by OJSC Alrosa fetched $22.5 million.

The 5 percent markup is a decline compared to previous tenders. In the past, tenders concluded with buyers paying much more than 5 percent above list price, according to traders.

Alrosa’s United Selling Organization reported "strong demand potential" for almost all categories of rough diamonds and a "stabilization of prices with an insignificant correction in some categories, which is connected with a significantly lower impact of speculative factors on the market."

Rough diamond trading is currently dormant, with very few transactions taking place. This is brining prices down.