ALROSA Expects Diamond Price to Improve by Year End

Reuters reported that Russia’s ALROSA (MCX:ALNU) has lowered its diamond prices by 6 percent so far in 2015. However, it expects prices to rise by the end of the year.

As quoted in the market news:

Andrey Zharkov, who was appointed company president in April, told Reuters that its rough diamond prices fell 3% in February and another 3% at the company’s May trading session.

‘I think we saw the same going on with (diamond miner) De Beers’ sight prices, according to the information we have,’ Zharkov said on the sidelines of a diamond conference in Tel Aviv.

Click here to read the full Reuters report.