Sharpest decline in rough diamond prices reaches 4% this year - Alrosa

MOSCOW. Sept 17 (Interfax) - The sharpest decline in rough diamond prices in real terms has reached 3%-4% this year, Sergei Takhiyev, head of corporate finance and investor relations at Alrosa , said at the RBC Capital Markets forum.

Last year's decline was 15%, Takhiyev said.

Takhiyev clarified that this concerns real prices for rough diamonds that reflect import prices to India rather than the index that shows ask prices on the secondary market and accounts for the speculative aspect.

The reason for the price decline has been the sharp rise in the cost of funding in 2023 from 6% to 11%-18%, which forced cutters to sell accumulated stocks and refuse to purchase rough diamonds.