Myanmar Jadeite Rough Supply Continues to Tighten, High-End Market Prices Reach New Peaks

Myanmar Jadeite Rough Supply Continues to Tighten, High-End Market Prices Reach New Peaks

【Yangon/Beijing】 The global jadeite market has once again turned its attention to Myanmar. Recent industry intelligence and market monitoring data indicate that, influenced by multiple factors, the supply of Myanmar jadeite rough continues to show a tight trend, particularly pronounced in March. This directly propelled a further increase in prices for high-end jadeite raw materials. Analysts point out that high-quality ice-jade and glass-jade roughs have seen particularly significant gains, while prices for mid-to-low-end varieties have remained relatively stable, highlighting an increasingly differentiated market.

Sustained Supply-Side Pressure, Scarcity of High-End Rough Evident

Myanmar, as the world's primary source of jadeite, has always had its complex political and economic environment as a critical variable affecting jadeite supply. Since the second half of last year, a confluence of factors, including adjustments in mining policies, unstable security situations, and disrupted logistics, has led to a continuous contraction in the total volume of jadeite rough entering the market. Industry insiders estimate that the total volume of Myanmar jadeite rough flowing into the international market in the first quarter of this year decreased by approximately 15% to 20% compared to the same period last year.

“This tightening of the supply side is not a short-term phenomenon but rather the result of long-term accumulation,” stated Professor Li Ming, a senior expert from the Gem & Jewelry Trade Association of China and a renowned jade appraiser, in an interview with our newspaper. “Especially for top-tier roughs reaching ice-jade and glass-jade quality, with vibrant green hues, their inherent scarcity dictates their high value. With a further reduction in supply, a price increase is an inevitable trend.”

Market data shows that in March, the average transaction price for high-quality ice-jade and glass-jade rough increased by approximately 8% to 12% month-on-month, with some premium pieces seeing gains of over 20%. For instance, a piece of exceptionally fine ice-jade with a vibrant green color has easily surpassed the one million RMB per kilogram mark, whereas similar quality rough might have been priced in the 800,000 to 900,000 RMB range during the same period last year.

Mid-to-Low-End Market Relatively Stable, Consumption Structure Adjusting

In stark contrast to the heated high-end market, prices for mid-to-low-end jadeite rough have remained relatively stable. While ordinary glutinous-jade and bean-jade varieties are also affected by the overall supply tightness, their relatively larger existing stock and higher market demand elasticity have resulted in smaller price fluctuations, with month-on-month increases generally ranging from 2% to 5%, and some ordinary roughs even seeing essentially flat prices.

“This reflects a changing consumption structure in the current jadeite market,” noted Mr. Wang Qiang, a special researcher at Peking University's Institute of Cultural Industries and a jewelry market analyst. “On one hand, the investment attribute of high-end collectible jadeite is increasingly strengthening, becoming an important option for asset allocation among high-net-worth individuals. On the other hand, the mass consumer market still has strong demand for mid-to-low-end jadeite, but consumers are more price-sensitive and prioritize cost-effectiveness. Therefore, the mid-to-low-end market cannot sustain significant price increases.”

Market Outlook: Supply Tightness Expected to Persist in the Short Term

Looking ahead, the industry generally believes that the tight supply of Myanmar jadeite rough is unlikely to see fundamental improvement in the short term. Geopolitical uncertainties, rising mining costs, and increasingly stringent environmental policies will continue to impact rough production and circulation.

Professor Li Ming predicts: “In the foreseeable next few months, prices for high-quality jadeite rough will remain firm, and may even continue to rise slightly. For investors and collectors, this presents both opportunities and challenges. The opportunity lies in value growth driven by scarcity, while the challenge is in discerning authenticity and understanding market dynamics.”

At the same time, Mr. Wang Qiang advises that for general consumers, in the current market environment, when purchasing jadeite jewelry, they should pay more attention to its craftsmanship, design, and wearing value, rather than blindly chasing fluctuations in raw material prices. The stability of the mid-to-low-end market also provides more entry-level jadeite options for a wider range of consumers.

Overall, the March jadeite rough market once again confirmed the truth that 'rarity commands value.' Against the backdrop of continuously tightening supply, the value attribute of high-end jadeite will be further highlighted, and the entire industry will face a profound structural adjustment.