Morning Bites (part 2)

💎India’s rough diamond net imports fell 11% YoY in May, vs. the flat YoY dynamics seen in April. Meanwhile, polished diamond net exports dropped 35% YoY. Synthetic rough diamond net imports rose 2% YoY. Lab-grown net rough imports accounted for 6% of total trading

We maintain our view that it might take longer than we had originally anticipated for the global diamond market to recover, given the still high midstream inventories in 2025. Meanwhile, further de-escalation of the US-China trade war (jointly, they account for ~65% of the world gem-set jewellery trade), would become a favorable factor for consumer confidence

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

#diamonds