Q2 2024 Market Analysis Report for Icy Jadeite (Nuozhong)

I. Market Overview and Price Data

In the second quarter of 2024, the market for Icy Jadeite (Nuozhong) generally showed a steady upward trend, especially in the mid-to-high-end quality segment, where market activity significantly increased. Despite global economic uncertainties, jadeite, as a scarce resource and cultural carrier, continues to be favored by investors for its value preservation and appreciation properties.

Price Data:

* Icy Jadeite Bangles (Inner Diameter 54-58mm, Thickness 8-10mm):
* Common Nuozhong (clean base, average translucency, no significant flaws): Price range RMB 8,000 - 25,000 per piece. Compared to the previous quarter, prices increased by approximately 3-5%. Trading volume increased by 8% quarter-on-quarter.
* High Icy Nuo / Nuohua (good translucency, jelly-like texture, fine base): Price range RMB 30,000 - 80,000 per piece. Prices increased by approximately 5-10%. Trading volume increased by 12% quarter-on-quarter.
* Icy Nuo (close to icy grade, fluorescent effect, very fine base): Price range RMB 100,000 - 300,000 per piece. Prices increased by approximately 8-15%. Trading volume increased by 15% quarter-on-quarter.

Icy Jadeite Pendants/Carvings (Size 3020*5mm, common themes like Buddha, Guanyin, leaf):
* Common Nuozhong: Price range RMB 2,000 - 8,000 per piece. Prices increased by approximately 2-4%. Trading volume increased by 6% quarter-on-quarter.
* High Icy Nuo / Nuohua: Price range RMB 10,000 - 30,000 per piece. Prices increased by approximately 4-8%. Trading volume increased by 10% quarter-on-quarter.
* Icy Nuo: Price range RMB 40,000 - 100,000 per piece. Prices increased by approximately 6-12%. Trading volume increased by 13% quarter-on-quarter.

II. Market Trend Analysis and Forecast

  • Increased Quality Differentiation: The pursuit of high-quality jadeite continues to heat up. The scarcity of Nuozhong jadeite with good translucency, fine base, and jelly/fluorescent effects ensures its stable price and upward potential. While common Nuozhong also saw slight increases, the growth rate was significantly lower than that of mid-to-high-end varieties.

  • Driven by Consumption Upgrade: With increasing disposable income and improved aesthetic tastes, consumers' perception of jadeite has shifted from simple wearing to a pursuit of quality, craftsmanship, and cultural connotations. This further drives the market demand for mid-to-high-end Nuozhong.

  • Integration of Online and Offline: The rise of online channels such as live streaming and short video platforms has broadened the sales channels for jadeite. Especially for reputable and professionally skilled merchants, significant sales volumes have been achieved through online platforms. Offline physical stores remain important venues for high-end jadeite experience and appraisal, with both complementing each other's development.

  • Highlighting Investment Attributes: In the current global inflationary environment, jadeite's investment attribute as a hard currency is increasingly prominent. Especially fine Nuozhong with collection value is considered an effective way to hedge against inflation and preserve/appreciate assets.


Forecast: It is expected that the Icy Jadeite market will continue to maintain steady growth in the next six months. Prices for High Icy Nuo and Icy Nuo jadeite are expected to continue to grow by 5%-15%, while common Nuozhong may see a growth of 2%-5%. The market will increasingly focus on the translucency, color, craftsmanship, and integrity of jadeite, which will be core factors determining prices.

III. Price Comparison of Different Quality Grades

| Quality Grade | Nuozhong Bangle (RMB/piece) | Nuozhong Pendant (RMB/piece) |
| :------------ | :-------------------------- | :--------------------------- |
| Common Nuozhong | 8,000 - 25,000 | 2,000 - 8,000 |
| High Icy Nuo / Nuohua | 30,000 - 80,000 | 10,000 - 30,000 |
| Icy Nuo | 100,000 - 300,000 | 40,000 - 100,000 |

IV. Investment Advice

  • Prioritize High Quality: For investors, it is recommended to focus on High Icy Nuo and Icy Nuo grade jadeite. Such jadeite not only possesses higher aesthetic value but also has stronger value preservation and appreciation capabilities due to its scarcity. Avoid blindly pursuing low prices; inferior jadeite carries higher investment risks.

  • Focus on Translucency, Color, and Craftsmanship: When purchasing, comprehensively consider the 'type (zhong), translucency (shui), color (se), and craftsmanship (gong)' of the jadeite. For Nuozhong jadeite, the 'type' is crucial; the better the translucency and finer the base, the higher the value. Additionally, the richness and uniformity of color (e.g., vibrant green, apple green) and the intricacy of carving will significantly impact its market value.

  • Choose Reputable Merchants: Always choose merchants with a good reputation and professional qualifications when buying jadeite, and request authoritative appraisal certificates. Avoid purchasing products of unknown origin or unusually low prices to prevent buying B-grade, C-grade, or counterfeit goods.

  • Long-Term Holding Strategy: Jadeite investment is a long-term investment, and short-term price fluctuations may not be significant. Investors are advised to view their investment returns over a period of 3-5 years or even longer, patiently holding high-quality jadeite to achieve more substantial returns.

  • Diversified Allocation: For investors with ample capital, consider including jadeite as part of an asset allocation strategy, combining it with other investment categories to diversify risks and optimize asset structure.


Conclusion: The Icy Jadeite market in Q2 2024 showed positive growth, with mid-to-high-end qualities performing particularly well. In the future market, quality, scarcity, and cultural value will continue to be core factors driving jadeite price increases. Investors should remain rational and make prudent choices to achieve stable investment returns.