Q2 2024 Turquoise (Qingu Material) Market Analysis Report
I. Market Overview and Price Data
In Q2 2024, the market for Qingu turquoise material generally showed a steady upward trend, especially for high-quality rough stones and finished products, where market demand remained strong. Influenced by stricter origin policies, rising mining costs, and continuous improvement in market recognition for premium materials, the price of Qingu material remained firm.
Specific price data is as follows:
* High-porcelain, high-blue (top-grade like Wulanfa, Caizihuang) rough stone: 2000-5000 CNY/gram, with some extremely rare small pieces even exceeding 8000 CNY/gram. Compared to the previous quarter, the increase was approximately 5%-10%.
* High-porcelain blue (upper-middle grade) rough stone: 800-2000 CNY/gram. Prices were relatively stable, with an increase of about 3%-5%.
* Medium-porcelain blue/green (ordinary grade) rough stone: 300-800 CNY/gram. Price fluctuations were small, basically flat.
* Finished products (beads, carvings, etc.):
* High-porcelain, high-blue finished products (taking 10mm beads as an example): 1500-3500 CNY/gram, with some exquisite carvings priced per piece, reaching tens of thousands of CNY or more. The increase was approximately 5%-8%.
* High-porcelain blue finished products (taking 10mm beads as an example): 600-1500 CNY/gram. Prices were relatively stable.
* Medium-porcelain blue/green finished products (taking 10mm beads as an example): 200-600 CNY/gram. Prices were basically flat.
Regarding trading volume:
The overall trading volume of Qingu material increased this quarter, especially on online platforms and professional exhibitions, where the activity of high-quality rough stones and exquisite finished products significantly improved. The total trading volume is expected to increase by approximately 10%-15% quarter-on-quarter.
II. Market Trend Analysis and Forecast
- Prominent Trend towards Premiumization: Market demand for high-porcelain, high-blue, untreated, and perfectly presented Qingu material remains strong. The value preservation and appreciation attributes of these scarce resources are increasingly prominent. In the future, the price of premium materials will continue to rise, widening the gap with ordinary materials.
- Profound Impact of Origin Policies: As regulations on turquoise mining, processing, and sales in the Zhushan area of Hubei become increasingly strict, the supply of legally compliant Qingu material will be limited, which will undoubtedly further push up its market price. In the short term, policy remains a key factor influencing Qingu material prices.
- Increased Consumer Awareness: With the popularization of turquoise culture and the improvement of consumer appreciation levels, awareness of Qingu material's origin, quality, and craftsmanship continues to rise. This lays the foundation for the value return and market prosperity of Qingu material.
- Integration of Online and Offline Development: New media channels such as live streaming and short videos have become important supplements to turquoise sales, expanding market reach. In the future, the integrated online and offline sales model will become more mature, promoting market circulation.
Short-term forecast: The Qingu material market is expected to continue its steady growth in Q3, with prices for high-quality rough stones and finished products still having room for appreciation, possibly between 3%-8%. Prices for ordinary materials will remain stable.
Long-term forecast: Given the scarcity and non-renewability of turquoise resources, as well as its unique cultural value, the long-term investment value of Qingu material remains promising. However, investors should be wary of market speculation risks and invest rationally.
III. Price Comparison of Different Quality Grades
| Quality Grade | Rough Stone Price Range (CNY/gram) | Finished Product Price Range (CNY/gram, for 10mm beads) | Characteristic Description |
| :----------------- | :------------------------------- | :----------------------------------------------------- | :--------------------------------------------------------------------------------------------------------------------- |
| High-Porcelain, High-Blue | 2000-5000+ | 1500-3500+ | Wulanfa, Caizihuang, top-grade sky blue, extremely high porcelain, pure color, no or very few hidden iron lines. |
| High-Porcelain Blue | 800-2000 | 600-1500 | High porcelain, pure blue or blue-green color, few fine iron lines. |
| Medium-Porcelain Blue/Green | 300-800 | 200-600 | Medium porcelain, bluish or greenish color, more or thicker iron lines. |
| Ordinary/Soft Turquoise | 50-300 | 50-200 | Low porcelain, light color, many iron lines, prone to 'blossoming' (color change) over time. |
IV. Investment Advice
- Prioritize Premium Products: Focus on high-porcelain, high-blue, untreated, and perfectly presented Qingu material. Such pieces not only possess higher aesthetic value but also strong potential for value preservation and appreciation. In the context of increasingly scarce resources, the investment return of premium materials will be significantly higher than that of ordinary materials.
- Focus on Rough Stones: For investors with a certain level of discernment, purchasing high-quality Qingu rough stones is a better choice. Rough stones offer greater transparency, avoiding potential risks during processing, and have greater potential for value appreciation through craftsmanship.
- Beware of Optimization Treatments: The market contains a large amount of turquoise that has undergone optimization treatments such as gluing, impregnation, and dyeing. Investors must learn identification knowledge, choose reputable merchants, and seek assistance from professional appraisal institutions when necessary to avoid purchasing optimized products.
- Long-Term Holding: As a non-renewable resource, the value of turquoise will gradually become apparent over time. Investors are advised to adopt a long-term holding mentality for investment, avoiding short-term speculative behavior.
- Diversify Investments: It is recommended that investors in turquoise appropriately diversify their investments across different quality grades and forms (rough stones, beads, carvings) of Qingu material to reduce risk.
- Learn and Communicate: Actively participate in turquoise communities, communicate and learn from experienced players and merchants, and enhance your appreciation skills and market judgment. Understanding the latest market dynamics and industry information will help in making more informed investment decisions.
Risk Warning: The turquoise market carries risks of price fluctuations, counterfeit products, optimization treatments, and liquidity. Investors should fully recognize and assess these risks, making decisions cautiously.