The diamond pipeline appears to be heading towards a balance again, as the world’s major producers had reduced supply by a quarter since the beginning of the year, the CFO of Russian miner Alrosa said on Friday.
Commenting on the company’s third-quarter and nine-month results, Alexey Philippovskiy said that the oversupply of polished diamonds and the “challenging situation” in India’s financial sector had had a significant impact on the diamond market.