Russia's Alrosa is talking to several global jewelery retailers about joint...
) is talking to several global jewelery retailers about jointly marketing the miner’s jewelery brand that uses fluorescent diamonds, as it strives to create a new niche for the natural stones.
“We are completing talks with several major companies in different regions,” Alrosa Chief Executive Sergei Ivanov told Reuters. Global demand for all types of diamonds has been hit by a trade war between the United States and China, the world’s two biggest diamond markets. Prices for smaller stones have fallen as deliberate output reductions have yet to remove oversupply. Alrosa and its competitors, chiefly Anglo American’s De Beers, are betting on a “value over volume” strategy. Alrosa expects to produce 38.
About half of all diamonds produced globally have some fluorescence, while 3% to 10% have strong fluorescence, Ivanov said.
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