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Post #1229 186
Morning Bites (part 2)

💎Botswana's ODC has halted diamond sales amid soft demand, Reuters reports, citing the company's managing director Mmetla Masire. Okavango Diamond Company (ODC), the marketing unit of Debswana with an allocation of ~6mnct (~5% of world rough diamonds supply in 2022), has cancelled its November auction and admitted the possibility of December sales being cancelled, reflecting weak demand in the US and China (53% and 12% of the global gem-set jewellery trade, respectively). Overall, the decision, along with the recent supply discipline measures taken by De Beers and Alrosa (which jointly represent ~60% of global rough diamonds output), could help to normalise midstream inventories in the medium term, we believe

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