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Alrosa does not see recovery in diamond prices this year
(Minews) - Russian diamond miner Alrosa lowered rough diamond prices by 6 percent at its May trading session and does not expect them to recover for the rest of the year, the company's president said on Tuesday.

"In prices I don't think we see a recovery. The opposite, actually. If we are talking about our May sight, the May trading session, we have actually lowered the prices by 6 percent on average," Andrey Zharkov told Reuters on the sidelines of a diamond conference in Tel Aviv.

"I think we saw the same going on with (diamond miner) De Beers' sight prices, according to the information we have," he said.

De Beers is a unit of global miner Anglo American Plc .

"Expectations (for the rest of the year) -- I think that the price should keep stable," said Zharkov, who in April was appointed president of Alrosa, the world's top producer by output in carats.
Publish date : Tuesday 16 June 2015 15:33
Story Code: 25367
Source : Reuters