Alrosa President Andreyev Denies Market Flooding Intentions

Alrosa will not offer deep discounts, President Andreyev with AWDC CEO Hanard (l) and Chair Roth

Alrosa will not flood the market with excess stock of rough diamonds or offer deep discounts in its marketing, said Alrosa president, Fyodor Andreyev. Andreyev made the statement during a visit in Antwerp to meet the local diamond industry.

Alrosa has large stocks of rough diamonds accumulated while not holding sales to the market in the November 2008 - June 209 period. When it tried to renew sales, the goods were priced some 20 percent above market prices.

During his visit in Antwerp, Andreyev met with diamond traders and on Monday, he visited the Antwerp World Diamond Centre (AWDC). According to the AWDC, discussions were held on “possible initiatives to boost the recovery of the diamond market and on new alliances which will take shape after the full recovery of the worldwide diamond market.”

Andreyev informed AWDC that Alrosa is determined to continue its presence in the world market “in a balanced and responsible way,” and that Alrosa fully respects long term contracts it has with its clients.