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Morning Bites

💎India’s natural rough diamond net imports declined 28% YoY in June, vs. the 43% YoY fall in May, per GJEPC data. Meanwhile, natural polished diamond net exports rose 11% YoY. Synthetic rough diamond net imports jumped 104% YoY, reflecting high monthly volatility in this segment. Lab-grown net rough imports accounted for 20% of total trading in value terms

In our view, the recent escalation of conflict in the Middle East might further weigh on global diamond trading, as it had previously disrupted operations in the UAE and Israel (major hubs), with some auctions being postponed. We maintain our view that it might take time for the global diamond market to recover, especially given risks to supply discipline in 2026

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

#diamonds
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