Morning Bites

💎US jewellery sales inched up 1% YoY in April, after being flat YoY in March, IDEX reports, citing local Department of Commerce data. According to Rapaport, suppliers were keeping more inventory in the US, while retailers showed steady interest, especially in fancy-shape diamonds

💍Hong Kong jewellery and watch sales slid 2% YoY in April, vs. the -3% YoY seen in March, per government data. According to Rapaport, local diamond demand remains weak with modest MoM improvement

Diamond market recovery might take longer than we had anticipated given still high midstream inventories and the risks to supply discipline in 2025

#diamonds