Morning Bites (part 2)

💎India’s rough diamond net imports declined 44% YoY in October, vs. the increase of 16% YoY in September. Meanwhile, polished diamond net exports fell 25% YoY. Synthetic rough diamond net imports rose 19% YoY. Lab-grown net rough imports accounted for 20% of total trading — a high since November 2023

We maintain our view that it might take time for the global diamond market to recover, given the still high midstream inventories in 2025 and new trading disruptions (the US raised import tariffs on India’s goods to 50% from late August)

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

#diamonds