Morning Bites (part 2)

💎India’s rough diamond net imports dropped 33% YoY in September, marking the 10th consecutive month of declines since December 2022 (ex. April, which showed some 7% YoY growth). Meanwhile, India’s polished diamond net exports dropped 25% YoY, after the 38% YoY fall in August. Synthetic rough diamond net imports dropped 21% YoY, after the one-off 16% YoY increase in August. As such, the share of lab-grown net rough imports in diamond trading was 8% in September, vs. 9% in August. We also remind readers that India (~95% of world polished stones supply) decided to halt rough imports for 2 months since mid-October, which underpins our cautious view on the global diamond sector in the short-term, along with weak market data

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