Alrosa Sees Demand for Rough at Digital Sale

RAPAPORT…  Alrosa sold 102 large rough diamonds at its latest digital tender, noting that there was still demand for its goods despite the coronavirus crisis.

“The results of the digital tender’s first round show that demand for rough diamonds persists [in] the market, and our clients are ready to buy diamonds through the online channel,” Alrosa deputy CEO Evgeny Agureev said in a statement Tuesday.

The sale, which ran from May 15 to 29, was open to the miner’s long-term clients, and included batches of goods ranging from 5 to 10 carats. The company allowed customers to buy individual stones rather than forcing them to take an entire box, letting them replenish their inventory selectively, it explained.

At these electronic tenders, Alrosa shows customers a full scan of each rough so they can make a detailed analysis. It’s been testing the format since October 2019 alongside traditional tenders, enabling buyers to view the digital scans and preselect goods before the physical sale. The Covid-19 pandemic prompted it to expand the program, with the current sale constituting its largest digital tender by volume.

The second round starts Wednesday and will be open to all of the company’s customers, including its spot and auctions buyers. It will feature more than 700 rough diamonds in the 5-to-10-carat category.


Image: Rough diamonds. (Alrosa)