ALROSA to Drop Rough Prices by 10% at September Sight

(IDEX Online News) – Russian mining giant ALROSA, the world’s largest producer of rough diamonds, will according to reports in the Russian media, cut prices at its September Sight, which is due to take place September 16-21, by around 10 percent.

Unlike De Beers, ALROSA did not drop its prices at the August Sight. However, current market conditions with a downturn in demand in China, and the resultant effect on the Indian diamond industry, have meant that according to reports, the Russian miner will drop its prices by anywhere between 6 percent and 13 percent.