Morning Bites (part 1)

💎 India’s rough diamond net imports fell 20% YoY in September, decelerating from the 47% YoY drop in August. Meanwhile, polished diamond net exports declined 23% YoY (vs. -22% YoY in August). Synthetic rough diamond net imports fell 27% YoY, after the 8% YoY drop seen in August. The share of lab-grown net rough imports in total trading stood at 8%

To recap, last month GJEPC underpinned the looming recovery in the diamond industry, as indicated by significant reductions in polished inventories across markets and price increases in certain diamond segments. We continue to believe that in 4Q24, polishers will unwind their inventories, paving the way for massive restocking in 1Q25

India accounts for ~95% of the world's polished stone supply

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