Morning Bites (part 2)

💎 India’s rough diamond net imports were down 37% YoY in January, in-line with the December dynamics. Meanwhile, polished diamond net exports slid 4% YoY, vs. 12% YoY gain seen a month ago (from a low base). Synthetic rough diamond net imports also decreased 25% YoY. The share of lab-grown net rough imports in total trading stood at 14%.

Although GJEPC has recently noted the looming recovery in the diamond industry, market participants confirm still high midstream inventories in early-2025. Hence, the potential diamond market recovery might take longer than we had initially anticipated.

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

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