钻石行业跟踪报告：9月印度培育钻石进出口数据表现平淡

Investment Rating - The industry investment rating is "Outperform the Market" (maintained) [1]. Core Insights - The report highlights a significant decline in both the import of rough lab-grown diamonds and the export of polished lab-grown diamonds from India, with imports down by 25.57% year-on-year to $0.63 billion and exports down by 16.50% to $1.11 billion in September 2024 [7]. - The penetration rate for lab-grown diamonds in imports increased to 7.50%, while the export penetration rate rose to 7.91%, indicating a mixed trend in market dynamics [10]. - In contrast, the natural diamond sector saw a reduction in the year-on-year decline of both rough imports and polished exports, with rough imports at $7.79 billion (down 24.62%) and polished exports at $12.91 billion (down 22.87%) [12]. - The international polished diamond price index fell to 97.01 points, reflecting a 1.03% decrease from August, indicating ongoing price pressures in the market [12]. Summary by Sections 1. Lab-Grown Diamond Data Tracking - The report details the import and export performance of lab-grown diamonds, noting a further widening of the year-on-year decline in both categories for September 2024 [7]. - The penetration rates for lab-grown diamonds show an increase in imports but a slight decrease in exports, suggesting evolving market conditions [10]. 2. Natural Diamond Data Tracking - The natural diamond sector experienced a smaller decline in import and export figures compared to the previous month, indicating a potential stabilization in the market [12]. - The price index for natural diamonds continues to trend downward, reflecting challenges in demand recovery [12]. 3. Investment Recommendations - The report suggests that the import and export data of rough and polished diamonds from India are critical indicators of downstream market conditions. Short-term trends indicate a decline in the lab-grown diamond sector, while the natural diamond sector shows signs of stabilization [17]. - Long-term prospects for diamond consumption are expected to improve with macroeconomic recovery and changing consumer attitudes towards diamonds, particularly lab-grown diamonds, which offer price advantages [17].