Morning Bites (part 1)

💎 India’s rough diamond net imports rose 4% YoY in May to USD 1.17bn, reversing from the -15% YoY in April. In terms of volumes, net imports were up 36% YoY to 8.6mnct. Meanwhile, India’s polished diamond net exports were down 19% YoY (vs. -15% YoY in April). Synthetic rough diamond net imports also increased, gaining 16% YoY, after the 19% YoY rise in April. The share of lab-grown net rough imports in total trading stood at 5% in May. On our numbers, the Indian midstream remains in the stock accumulation zone

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

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