Morning Bites (part 2)

💎 India’s rough diamond net imports jumped 43% YoY in January, partly due to the low base effect (the figure was -10% vs. Jan-21), and reversing from the -14% YoY in December. Meanwhile, India’s polished diamond net exports were down 26% YoY (vs. the -48% YoY in December). Synthetic rough diamond net imports rose 3% YoY, after +17% YoY in December. The share of lab-grown net rough imports in total trading stood at 12% in January. Although India’s diamond demand showed notable improvement in January 2024, as the country resumed rough stone imports after 2 months of suspension (15 October - 15 December 2023), the global diamond market might remain stressed for the next 3-9 months amid still elevated industry’s inventories, we believe

We also recap that India accounts for ~95% of world polished stone supply

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