Morning Bites (part 4)

💎India’s rough diamond net imports dropped 19% YoY in May, continuing the decline seen since December 2022 (except the 7% YoY growth in April). Meanwhile, India’s polished diamond net exports dropped 17% YoY in May (after the -39% YoY in April), while synthetic rough diamond net imports fell 50% YoY (-52% YoY). The share of lab-grown net rough imports in natural diamond imports was 8% in April, slightly less than the 9% in 2022. Hence, rather weak demand from India’s midstream (~95% of world polished stones supply) underpins our cautious view on the global diamond market

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