Morning Bites (part 1)

💎 India’s rough diamond net imports dropped 14% YoY in December, decelerating from the -79% YoY in November. Meanwhile, India’s polished diamond net exports shrank 48% YoY (vs. the -27% YoY in November). Synthetic rough diamond net imports rose 17% YoY, reversing from the -23% YoY in November. As such, the share of lab-grown net rough imports in diamond trading was 9% in December. We also remind readers that in mid-December, India (~95% of world polished stone supply) resumed rough imports after 2 months of suspension. Overall, the gradual improvement of consumer sentiment in the (key) US and Chinese markets (which together account for ~65% of the world's gem-set jewellery trade) might trigger the recovery on the stressed diamond market, we believe

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