SDE News

ALROSA Held Third Diamond Tender in Shanghai

2016-05-17

ALROSA Diamond Tender has been held in Shanghai since May 09 to 13, 2016. The tender was organized by ALROSA in association with the Shanghai Diamond Exchange SDEpursuant to the Letter of Intents and the Cooperation Agreement signed by ALROSA and SDE in April 2013. The event lasting five days has been the third tender co-organized by both parties so far which was exclusive to the invited SDE’s members. 
 
With 26 lots of rough diamonds and 114 lots of polished diamonds available for preview, inspection and biding by participants, Mr. Timur Engorov – Managing Director of ARCOS (ALROSA Hong Kong Branch) and other three ALROSA Reps made a trip to Shanghai to prepare for this event. Member with intent to participate the tender has to register as a bidder and make appointment for preview time in terms of the request of the tender, while no deposit is required.     
 
Up to May.13 the tender was held successfully. According to the results announced by ALROSA, 14 lots of rough diamonds and 46 stones of polished diamonds were sold out with total value of sold diamonds amounted to USD1,803,226.
 
At the end of tender, Mr. Timur Engorov said that “ ALROSA views China’s diamond market as a very important market with great potential, and will continue to strengthen the cooperation with Shanghai Diamond Exchange to hold more tenders in the near future in an efforts to build even deeper and closer relationships with SDE’s members”.
 
ALROSA was founded in 1992, the second largest diamond producer in the world after De Beers. Since 2014 it has become the largest global diamond producer in terms of the output volume.

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