De Beers said its unit on the auction sales will start a pilot project on trade diamond forwards contracts with a fixed price, which will provide "very effective" option for small and medium-sized companies seeking access to regular put diamonds on a predictable price.
Earlier, De Beers organized and other pilot projects in the segment of auction sales, including the provision to third parties the right to use its platform to the auction of diamonds.
In his statement, De Beers said that the first such auction for some categories of "grains", "small-size" and "close to the large stones" diamonds will be held on 16 February.
"Comprehensive dialogue with customers stressed the potential for further development of a spot market for our rough diamond", - said the executive vice-president of the De Beers at auction sales Neil Ventura (Neil Ventura).
"Our customers have told us that they see the importance of short-term contracts for the supply, but they prefer to get them on the basis of fixed prices, which would allow to avoid potential problems with the provision on the basis of a floating price contracts, which refers to the base price of the spot under the contract. Therefore, we decided to experiment with the three-month forward contracts at a fixed price, to complement our channel of spot sales and long-term supply contracts for the proposed global sightholders. we Udem test the demand for a regular, guaranteed short-term supply contracts at fixed prices ", - he added.
Since the launch of forward contracts at floating price basis in December 2013, a division of auction sales of De Beers has been steadily developing its direct supply chain, selling a total of more than 350 custom-made contracts for delivery during this period, Ventura said.
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