Morning Bites (part 1)

💎India’s rough diamond net imports dropped 24% YoY in June, marking the 7th consecutive month of declines since December 2022 (except the 7% YoY growth in April). Meanwhile, India’s polished diamond net exports fell 33% YoY, accelerating from the 17% YoY decline in May, while synthetic rough diamond net imports decreased 48% YoY (-50% YoY in May). The share of lab-grown net rough imports in natural diamond imports was 7% in May, the same as in May 2022. Given the weak demand data from India’s midstream (~95% of world polished stones supply) we maintain our cautious view on the global diamond market

#diamonds  
https://metals-wire.com/sector/Diamonds