Alrosa lets Buyers get Supplies Between Trading Sessions
February 09, 22
(IDEX Online) - Alrosa today said it will allow buyers to get their hands on much-needed rough sooner, by shifting booked volumes to an earlier date.
The Russian miner also said it would hold an additional tender between trading sessions and would be buying stock from the state's Gokhran later this month to ease ongoing supply shortages.
It says it's giving long-term buyers, who account for 70 per cent of its business, an opportunity to adjust their purchase schedules with "an option to adjust supply schedules between trading sessions".
Evgeny Agureev, Alrosa's deputy CEO, said they saw robust demand from our customers underpinned by real orders.
"By reaffirming its commitment to a prudent and balanced policy aimed at sustainable progressive growth of the industry, Alrosa offers its customers a new option of adjusting diamond purchase schedules within their allocations by requesting the part of the booked rough diamond volumes to be moved to an earlier date," he said.
Alrosa slimmed down its list of long-term clients as of 1 January, and introduced allocations more tailored to their needs.