Morning Bites (part 2)

💎India’s rough diamond net imports fell 79% YoY in November, following the voluntary trading freeze (vs. +12% in October). Meanwhile, India’s polished diamond net exports dropped 27% YoY, decelerating from the -41% YoY in October. Synthetic rough diamond net imports fell 32% YoY (after a 72% YoY surge in October). Noteworthy, the share of lab-grown net rough imports in diamond trading stood at 21% in November, vs. the average level of 7% since 2021, likely amid halted natural rough diamond imports. Overall, on our numbers, the midstream stocks are gradually switching into release area, which is a favorable factor for the stressed diamond market

To recap, India represents ~95% of the global polished stones supply

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