Alrosa will Analytical Center, whose task will be targeting diamond prices and terms of market development, said [yesterday] reporters the president of the company Andrey Zharkov.
According to him, ALROSA has reflected on the establishment of such a center based on the situation in 2015, when he said the effects of the market participants made before the wrong outlook on demand for jewelry in China.
Manufacturers of diamonds and jewelry sellers expect double-digit growth in demand in China, "but, unfortunately, the situation was the reverse," said Alexander Zharkov. Excessive stocks midstream contributed to a drop in demand for diamonds and diamond miners turned lower sales and a 15 per cent fall in prices - in the absence of the crisis in the diamond market. "Our task in 2015 was the normalization of stocks, and the stabilization of prices", - said A.Zharkov.
"We are in the company, based on the events that we've seen in the last year, are busy creating a think tank whose task will not be easy to predict the prices and terms of market development, but also to target", - he said. "Our company is one of the major industry players, market maker, and it should not be simply to predict certain events in the market, but also to prejudge them," - said the president of ALROSA.
In the second half of 2016 ALROSA "does not expect a very serious volatility, volumes of consumption stabilized," said Alexander Zharkov.
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Dominion Diamond Corporation, a Canadian diamond producer, reports that in 2016 fiscal year ended Jan. 31, its diamond sales fell 21% to $ 720.6 million compared with the previous year. At the same time, production of diamonds from the company's wholly-owned Ekati mine (Ekati) increased by 18% during the reporting period, to 3.7 million carats.
In the fourth quarter of fiscal 2016 diamond production at the Ekati mine jumped by 42% to 1.2 million carats. The company's share in the production of diamonds in the Diavik mine (Diavik), which it owns 40%, increased by 3.1% to 598 000 carats in the last three months of calendar 2015.
Dominion plans to increase production at the Ekati diamond by 47% to 5.5 million carats for the twelve months to January 2017.
As expected, Dominion complete geological and economic evaluation of Jay (Jay) kimberlite project in May 2016, one month later than previously expected. The company has learned to project a gross sample of the total weight of 1028 tons, received 1904 carats.
Prices for the January tender diamond companies were reduced by 5% in line with market conditions. Nevertheless, the lack of rough diamonds in cutting centers has led to the fact that at the beginning of February there was a series of categories of diamond prices. US retail sales of diamonds in the fourth quarter was positive, says the Dominion.
In the fourth quarter, the company held three rough diamond auction and plans to hold two more auctions for three months until 30 April.
As of January 31, 2016, in the run-off of the company, there were about 2 million carats of diamonds ready for sale, with an estimated market value of about $ 97 million.
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