Morning Bites (part 2)

💍China’s jewellery and watch retail sales shrank 3% YoY in January-February, after the 2% YoY growth in December.  The figure stayed close to its historical highs, while it was 31% above the pre-Covid 2019 level. In our view, China’s reopening (accompanied by the strong February PMIs and liquidity injections data) might further bolster local jewellery sales. However, the positive impact on the stressed global rough diamond market is likely to be limited, as China represents only 15% of world gem-set jewellery sales

#diamonds
https://metals-wire.com/sector/Diamonds