Morning Bites (part 1)

💎 India’s rough diamond net imports fell 35% YoY in October, accelerating from the 20% YoY drop in September. Meanwhile, polished diamond net exports rose 13% YoY (vs. -23% YoY a month ago). Synthetic rough diamond net imports fell 25% YoY, broadly in line with the -27% YoY seen in September. The share of lab-grown net rough imports in total trading stood at 10%

To recap, GJEPC has recently noted the looming recovery in the diamond industry, driven by significant reductions in polished inventories across markets and price increases in certain diamond segments. We continue to believe that in 4Q24, polishers will further 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