2024 Turquoise (Qingu Material) Market Analysis Report

I. Market Overview and Price Data

In the first half of 2024, the market for Qingu turquoise generally showed a steady upward trend, especially for high-porcelain, high-blue, and Wulan flower (spiderweb) premium materials, which exhibited strong price performance. Driven by both resource scarcity and market demand, the value of Qingu material continues to be recognized.

Price Range (per gram, for ordinary loose beads or carving blanks):
* Ordinary Material (average porcelain, lighter color, more iron lines): 150 - 400 CNY/gram
* Medium Material (high porcelain, true blue color, fewer iron lines): 450 - 900 CNY/gram
* Premium Material (high porcelain, high blue, no iron lines or Wulan flower, high silicification/gelatinization): 1000 - 3000 CNY/gram, some extremely rare Wulan flower or high-porcelain jelly-like material can even reach over 4000 CNY/gram.

Price Fluctuations:
* Overall Increase: Compared to the end of 2023, the overall price of Qingu material increased by approximately 5%-10%.
* Premium Material Increase: Top-grade materials such as high-porcelain, high-blue, and Wulan flower saw more significant increases, reaching 10%-20%.
* Ordinary Material Increase: The increase was smaller, largely remaining stable, with some even experiencing slight corrections.

Trading Volume:
* Online Platforms (live streaming, e-commerce): Monthly average trading volume of approximately 200-300 kg (rough stones and finished products), with premium materials accounting for about 15%-20%.
* Offline Markets (wholesale, exhibitions): Monthly average trading volume of approximately 150-250 kg, with strong demand for bulk transactions and high-end customization.
* Total Trading Volume: The total trading volume for Qingu material in the first half of the year is estimated to be around 20-30 tons, showing a slight increase compared to last year.

II. Market Trend Analysis and Forecast

  • Resource Scarcity Continues to Drive Up Premium Prices: High-quality turquoise from the Qingu mine is highly sought after due to its unique porcelain quality and color. As mineral resources become increasingly depleted, the scarcity of high-quality Qingu material will become more prominent, and its price increase trend is irreversible. In the coming years, the price of premium Qingu material is expected to maintain an annual growth rate of 10%-15%.

  • Consumer Aesthetic Upgrade, Pursuit of High Quality: As consumers' awareness of turquoise increases, so does their demand for quality. Market demand for high-end Qingu materials such as “high-porcelain, high-blue,” “gelatinized material,” and “Wulan flower” is growing, while the market share of ordinary materials may gradually be squeezed by mid-to-low-end products from other origins.

  • Live E-commerce and Customization Drive: Live streaming sales and personalized customization services have greatly expanded the sales channels for turquoise and created more diverse consumer demands. Especially customized carvings and inlaid jewelry provide higher added value for Qingu material.

  • Policy Impact: The tightening of mining policies and increased environmental protection requirements will further restrict the supply of rough stones, thereby supporting prices. In the short term, the market supply will not increase significantly.


Forecast: It is expected that the Qingu material market will remain active in the second half of the year, with premium material prices continuing to rise steadily, and ordinary material prices remaining relatively stable. The overall market will develop towards quality and high-end products.

III. Price Comparison of Different Quality Grades

| Quality Grade | Porcelain Quality | Color | Iron Line Condition | Market Price (CNY/gram) | Remarks |
| :------------ | :--------------- | :---------- | :------------------ | :---------------------- | :------------------------------------------- |
| Ordinary | Average | Lighter/Cyan | More/Obvious | 150 - 400 | Suitable for entry-level players or practice carving |
| Medium | High Porcelain | True Blue | Fewer/Fine | 450 - 900 | High cost-performance, large market circulation |
| Premium | High Porcelain, High Density | Sky Blue/Azure | None/Very Few/Wulan Flower | 1000 - 3000 | Collectible grade, high potential for value appreciation |
| Top Grade | Top High Porcelain, Gelatinized | Top High Blue/Wulan Flower | None | 3000 - 4000+ | Rare, hard to come by, artistic collection value |

IV. Investment Advice

  • Prioritize Premium Materials: For investors, it is recommended to primarily invest in Qingu premium materials with high porcelain, high blue, high gelatinization, no iron lines, or unique Wulan flower patterns. These products not only have higher aesthetic value but their scarcity also dictates stronger value preservation and appreciation capabilities.

  • Focus on Rough Stones and Finished Products: If funds permit, one can consider investing in high-quality Qingu rough stones, but this requires certain identification skills. For ordinary investors, choosing finished carved pieces or bead strings from reputable dealers is more reliable, avoiding the risks associated with cutting rough stones.

  • Beware of Market Risks: The turquoise market has issues such as counterfeiting and enhanced treatments. When purchasing, be sure to choose qualified and reputable dealers and request authoritative appraisal certificates. At the same time, price fluctuations are influenced by various factors, so investment should be cautious, and blind pursuit of high prices should be avoided.

  • Long-Term Holding Strategy: As an non-renewable resource, the value of turquoise will gradually become apparent over time. A long-term holding strategy is recommended, rather than short-term speculation.

  • Learn Appraisal Knowledge: Improving one's appraisal ability is key to investing in turquoise. Learning about the origin characteristics, quality grades, and enhancement methods of turquoise will help in making more informed investment decisions.