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ALROSA, SDE Hold First Shanghai Tender

Aug 20, 2013 3:06 AM   By Deena Taylor
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RAPAPORT... ALROSA raised more than $700,000 at its first tender of rough and polished diamonds at the Shanghai Diamond Exchange (SDE).

Rough diamond sales amounted to $505,362, while the sale of polished diamonds achieved $245,389 at the tender. The company did not disclose how many carats were sold.

ALROSA reported that 35 companies participated in  viewing sessions, which took place between July 29 and August 2.

The tender was a pilot sale following the agreement signed by ALROSA and the SDE in April 2013. ALROSA stated that it intends to collaborate further with the SDE in an effort to expand its presence in China.

* Picture courtesy of SDE.
Tags: Alrosa, Chow Tai Fook, Deena Taylor, SDE, Shanghai Diamond Exchange
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