RAPAPORT... ALROSA will lower rough diamond prices at its September sale by 8 percent to 10 percent, Russian news agency Interfax reported Sept.15, citing unnamed sources.
"Preliminarily, the drop is 10 percent, in the framework of the market situation," one of the sources was quoted as saying. Another said ALROSA would cut prices by 6 percent to 13 percent. "On average, it's around 8 percent, for our assortment of + 9 to 8 grainers [between 0.65 and 2 carats]. This is not far from the drop at the De Beers [auction] in August."
According to the quoted sources, 50 percent deferrals will be allowed, higher than in August. Unlike De Beers, ALROSA did not lower prices in August.
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