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Morning Bites (part 3)

💎Petra Diamonds’ LFL rough prices at its 6th tender slid 3% vs. its 5th auction, mainly due to soft demand following Indian holidays and slow recovery in the Chinese market, according to Petra's press-release. Meanwhile, the miner’s average LFL prices in the last six tenders (July 2023 - May 2024) were down 9% YoY. Regarding the diamond market environment, Petra continues to see gradual stabilisation, remaining cautiously optimistic on demand and pricing improvement in 2024, which comes in line with our expectations of a potential diamond market recovery starting in the next 6 months

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