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Morning Bites

💎India’s natural rough diamond net imports fell 10% YoY in July, vs. the 28% YoY decline in June, per GJEPC data. Meanwhile, natural polished diamond net exports dropped 25% YoY. Synthetic rough diamond net imports rose 57% YoY, reflecting high monthly volatility in this segment. Lab-grown net rough imports accounted for 14% 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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