Global economic recession, the international commodity markets bear the brunt of the diamond market could not escape unharmed. But what is surprising is the Russian diamond business continued to grow, this year has exceeded the South African diamond mines group De Beers, the world's largest diamond producer, gradually grasp the next few years the global diamond market prices, and they are now those flatback crystals, quietly waiting for the market to stabilize demand that day.
"New York Times" reported that, at this Russian state plastic gems company Alrosa, workers busy dealing with the size of the diamond, clarity and quality of the relevant job. However, until the completion of all procedures, these diamonds and not directly to the rest of the world to sell, but after pack strapped stored in the treasury.
Competitors De Beers cut funds exhausted, the 90% state-owned Russian diamond mining company Alrosa this year to become the world's largest plastic gems. However, due to the current poor diamond sales boom, the company after processing diamonds to store these goods is estimated that each month can be cut out about three million carats of jewelry.
And because of this, Russia into the global diamond price decision-maker, holds the next few years, retail sales of diamond production and prices, as the world recession has been the most unexpected development.
To begin at the beginning, it may be depression jewelry market economy rules. The world's first artificial diamond mine De Beers Group, has been badly hit, but also because of a shortage of funds, the past six months on the funding of $ 800 million. In the United States into recession and under the influence of the EU anti-monopoly, De Beers diamond group ended its long-storage strategy, have to cooperate with Russia Alrosa, trying to keep diamond prices do not fall.
Although Russia has always been quite fond of using artificial lift prices policy, but artificial diamond are an exception. Alrosa says, "If there is no human factors supporting the price of diamonds, then it is at best a carbon."
But now there is a problem. Russia does not interfere in how the market price, the market crept back to the diamond?
Russia relies on two conditions: one for those Soviet-era confiscated gem inventory; two for investors, Alrosa diamond company hopes investors can invest the same as gold. Moreover, Alrosa also has persuaded the Government of Angola also has the strength of oil, bought 30% of the minerals diamond production in Angola, so that these do not flow to the first diamond market.
But from another perspective, the Russian diamond industry enterprises to stir up the beam, the present time to be a little dangerous.
As of last year, De Beers Group still holds 40% of global diamond ore supply, Alrosa only 25%. But after the entry into force of European antitrust agreement, De Beers Group diamond inventory is prohibited, and closed part of the mines on the market to cope with the problem of excessive ore.
The first quarter of this year, De Beers Group, a substantial cut ninety percent, other mining company Rio Tinto (Rio Tinto; RTP-US) with BHP Billiton together (BHP Billiton; BHP-US) have also depress yields.But the Russians do not want to do so, government officials worry the move will allow disaffected unemployed labor unrest, social unrest, it has been trying to safeguard the work of labor rights.At the same time, according to research firm estimates that the total value has reached 21.5 billion US dollars of loose diamonds wholesale market, probably will play this year fell to $ 12 billion. The rough (rough diamond) prices fall even worse, since the peak in July last year began, it has fallen by 75%.Alrosa CEO Sergei Vybornov company will take these blames flatback crystals traders as collateral for a loan. Since last fall, the credit markets dried up, banks and other creditors seized those gems and sold live, resulting in excess supply on the market, thereby affecting the price.In post-Soviet Russia was officially diamond companies and mining group De Beers South Africa cooperation. And now this side of Russian strength gradually rise.Currently Alrosa diamond company sells a lot of long-term contracts to wholesalers, the market throughout Belgium, Israel, India and other places. In these contracts, there has been completed the signing of six, the price range was made last August peak in the middle and the end, and will remain for several years.
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