Morning Bites (part 1)

💎 India’s rough diamond net imports dropped 13% YoY in February, after the one-off 43% YoY growth in January. Meanwhile, Indian polished diamond net exports shrank 31% YoY (vs. the -26% YoY in January). Synthetic rough diamond net imports surged ~2x YoY, after +3% YoY in January. As such, the share of lab-grown net rough imports in diamond trading was 9% in February

Although diamond imports to India -- which accounts for more than 90% of world polished stone supply -- remained subdued in terms of value in February, the volumes recovered 8% YoY to 15.2mnct, which might be a leading indicator for recovery in the diamond sector, as we have previously suggested would happen. Meanwhile, the gradual improvement of consumer sentiment in the key US and Chinese markets (which jointly account for ~65% of the world's gem-set jewellery trade) might provide additional support to diamond demand, we believe

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