Morning Bites (part 2)

💎The GJEPC has noted a looming recovery in the diamond industry, according to the council’s letter. Significant reductions in polished diamond inventories across markets indicate that supply (which might be significantly lower YoY in 2024) is now more aligned with demand, providing a basis for price stabilisation. The GJEPC also highlighted the strong sales momentum in August, in addition to price increases in certain diamond segments

As we have noted previously, solid US downstream demand (~53% of the global gem-set jewellery trade) would accelerate the diamond sector recovery in 2H24, while the upcoming festive season is expected to see good sales

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