Alrosa CEO Says Jump in Rough-Diamond Prices May Signal Bubble
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Alrosa, the world’s largest diamond miner by output, said prices for rough gems exceed pre-crisis levels and are growing faster than forecast, potentially signaling a bubble in the market.
“At the end of last year we increased the price by 5 percent, and this year we increased the price more than 10 percent,” Alrosa Chief Executive Officer Fyodor Andreev said in a Bloomberg Television interview. “Now our price is 8 percent more than it was before the 2008 crisis.”