Russia’s Alrosa, like De Beers, makes opaque cuts to diamond prices
De Beers has cut prices by almost 10% for larger stones as increased demand for rough diamonds is inevitable with polishers and jewellery stores shuttered during the pandemic
27 August 2020 - 11:16
London/Moscow — Russian diamond miner Alrosa has joined rival De Beers in cutting prices for its gems, but with a twist — the company changed its billing system so buyers can’t tell which stones are discounted, or by how much.
The two biggest producers refused to cut prices for months, even as sales collapsed during the coronavirus pandemic, to avoid giving up too much ground before demand returned...
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