Myanmar Jadeite Rough Supply Remains Tight, High-End Market Prices Hit New Peaks

Myanmar Jadeite Rough Supply Remains Tight, High-End Market Prices Hit New Peaks

【Yangon/Beijing】 The global jadeite market has recently experienced persistent pressure from tight supply originating from Myanmar, leading to a significant price surge for high-quality jadeite rough, particularly in March. Industry observations indicate that prices for top-tier ice-jade and glass-jade rough have seen the most substantial increases, while prices for mid-to-low-end varieties have remained relatively stable, signaling an increasingly polarized market.

Myanmar, as the world's primary source of jadeite, has seen its mining activities and export policies become critical factors influencing the global jadeite market. In recent years, due to a confluence of complex factors including geopolitical shifts, stricter mining license regulations, and environmental protection policies, the supply of Myanmar jadeite rough has consistently remained low. According to industry insiders, the total export volume of Myanmar jadeite rough in 2023 was approximately 30% lower than pre-pandemic levels, and this trend has not abated in 2024; if anything, it shows signs of further tightening.

"The scarcity of high-end jadeite rough is now fully recognized and absorbed by the market," stated Professor Li Ming, a renowned jade appraisal expert and senior consultant to the Gems & Jewelry Trade Association of China. "Against the current backdrop of tight supply, the price increase for high-quality jadeite such as ice-jade and glass-jade, which possess both collection and investment value, is inevitable. We anticipate that this scarcity premium will persist, and potentially even widen, in the foreseeable future."

Data reveals that in March, transaction prices for some top-grade ice-jade and glass-jade rough increased by 5% to 10% month-on-month, and a staggering 20% to 30% year-on-year. In contrast, prices for mid-to-low-end jadeite rough, such as glutinous-jade and bean-jade, experienced relatively minor fluctuations, mostly maintaining slight increases of less than 2% or remaining flat. This indicates that market capital is rapidly concentrating on scarce resources, with investors and collectors showing sustained enthusiasm for high-quality jadeite.

A jadeite trader, who preferred to remain anonymous, commented, "To acquire a piece of high-quality ice-jade rough now, one not only has to pay a higher price but also needs a broader network and a longer waiting period. Often, even if the price is right, it might be difficult to find available stock." He further disclosed that some large jadeite processing enterprises and brand owners have begun to secure premium raw materials through pre-orders and exclusive contracts to ensure the supply of high-end products.

Looking ahead, the supply-demand imbalance in the jadeite market is unlikely to be fundamentally resolved in the short term. Professor Li Ming believes, "The uncertainty surrounding Myanmar's jadeite mining and export policies, coupled with the increasing depletion of high-quality veins, suggests that the scarcity of high-end jadeite rough will become the new normal. For consumers, purchasing jadeite should focus more on its quality, craftsmanship, and cultural significance, rather than blindly chasing short-term price fluctuations. For investors, long-term holding of high-quality jadeite remains a stable choice."

Concurrently, the industry also calls for strengthened sustainable mining practices and supply chain management at the jadeite origin to foster healthy development of the jadeite industry. While new exploration technologies or alternative materials may emerge with technological advancements, the intrinsic value of natural high-quality jadeite remains irreplaceable for now, and its market position is unlikely to be shaken in the short term.

Market Outlook: Prices for high-end jadeite rough are expected to remain firm in the coming period, with the possibility of further increases. The mid-to-low-end market will likely maintain relative stability, though some varieties may experience slight upticks as costs are passed on. Investors and collectors should closely monitor market dynamics and make rational decisions.