ALROSA sees global diamond market price stabilization

MOSCOW, Nov 14 (PRIME) -- Russian diamond producer ALROSA has noticed stabilization and the first signs of resumption of positive dynamics on the global diamond market, the company said on Tuesday citing Sergei Takhiyev, corporate finance department head.

"The cut and uncut diamond market is cyclical. The current correction in demand, mainly caused by the macroeconomic reasons, is happening due to a high base of 2021 and the first quarter of 2022, when the cut and uncut diamond sales figures hit records," the executive said.

"We see an increasing number of signs of completion of a phase of stock reduction in the segment of cutting and retail," Takhiyev said.

He added that the Christmas season is to be good for the jewelry retailers.

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