Morning Bites (part 2)

💎India’s rough diamond net imports rose 7% YoY in April, marking the first increase since November 2022. Specifically, India’s polished diamond net exports dropped 39% YoY (vs. -25% YoY in March), while the county’s synthetic rough diamond net imports decreased 52% YoY in April (vs. -53% YoY in March). The share of lab-grown net rough imports in natural diamond imports was 7% in April — the same as a year ago

🚘EU + UK passenger car registrations rose 16% YoY in April, decelerating from the 26% YoY growth in March. The results were in line with the preliminary estimates. Nevertheless, the figure was still 28% below the pre-COVID 2019 level (vs. -20% in March). We keep our cautious outlook on EU car sales amid the economic slowdown. To recap, the EU + UK accounted for 20% and 32% of the world auto-catalyst Pd and Pt demand, respectively, in 2022E. Hence, weak car sales could keep PGM demand at subdued levels

#cars #diamonds
https://metals-wire.com:3000/news-reports