钻石行业跟踪报告：10月印度钻石出口数据有所回暖

Investment Rating - The industry investment rating is "Outperform" [2][36]. Core Insights - The report highlights a recovery in India's diamond export data, with both cultivated and natural diamond exports showing positive year-on-year growth in October 2024 [2][32]. - The report indicates that the penetration rate for cultivated diamonds in India has decreased on the export side but increased on the import side [22]. - The natural diamond price index has continued to decline, reflecting insufficient recovery in market demand [29]. Summary by Sections 1. Cultivated Diamond Data Tracking - In October 2024, India's cultivated diamond rough imports amounted to $0.64 billion, a year-on-year decline of 27.79%, which is a further increase in the decline compared to September [20]. - The cultivated diamond export value reached $1.38 billion, showing a year-on-year increase of 1.27%, marking a shift from negative to positive [20]. - The penetration rate for cultivated diamond exports was 8.96%, down by 0.80 percentage points year-on-year, while the import penetration rate was 8.82%, up by 0.77 percentage points year-on-year [22]. 2. Natural Diamond Data Tracking - India's natural diamond rough imports in October 2024 were $6.66 billion, reflecting a year-on-year decline of 35.35%, which is a further increase in the decline compared to September [27]. - The natural diamond export value was $14.04 billion, with a year-on-year increase of 11.32%, indicating a recovery from negative growth [27]. - The international polished diamond price index fell to 96.01 points by the end of October, down 1.00 percentage point from September [29]. 3. Investment Recommendations - The report suggests that India's rough diamond import and polished diamond export data are crucial indicators for assessing downstream market conditions [32]. - Short-term trends show that both cultivated and natural diamond exports have turned positive year-on-year, indicating improved demand conditions in October [32]. - In the medium to long term, the report anticipates a gradual recovery in diamond consumption demand, driven by macroeconomic recovery and changing consumer preferences [32].