Morning Bites (part 3)

💎 India’s rough diamond net imports were down 37% YoY in December, vs. the +96% YoY (from a low base) in November. Meanwhile, polished diamond net exports rose 12% YoY (also from a low base: net exports were -48% YoY in December 2023), vs. -27% YoY a month ago. Synthetic rough diamond net imports decreased 51% YoY. 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 the current reduction of inventories will lead to midstream restocking in 1H25, in addition to steady jewellery sales growth in the key US downstream market

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

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