Morning Bites (part 2)

💎 India’s rough diamond net imports were up 96% YoY in November, mainly due to the low base effect (-19% MoM), reversing from the 35% YoY drop in October. Meanwhile, polished diamond net exports fell 27% YoY (vs. +13% YoY a month ago). Synthetic rough diamond net imports fell 25% YoY, in line with October. The share of lab-grown net rough imports in total trading stood at 8%

To recap, GJEPC has recently noted the looming recovery in the diamond industry, driven by significant reductions in polished inventories across markets. We continue to believe that in late-2024, 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