Myanmar Jadeite Rough Supply Tightens Further, High-End Market Prices Reach New Peaks
【Yangon/Shenzhen, March 28, 2024】 The global jadeite rough market witnessed another round of price fluctuations in March 2024, primarily driven by the persistent tightening of supply from its main origin, Myanmar. According to internal industry data, this month saw particularly significant price increases for high-end jadeite rough, especially top-tier qualities such as 'ice-kind' (bing zhong) and 'glass-kind' (boli zhong). Some premium rough materials even set new historical price records for the past five years. Concurrently, prices for mid-to-low-end jadeite varieties showed relative stability, indicating an increasingly polarized market trend.
Myanmar has long been the world's primary supplier of jadeite rough, and its political stability, mining policies, and mine safety conditions have a crucial impact on the global jadeite market. In recent years, due to a confluence of factors, both the extraction and export volumes of Myanmar jadeite rough have shown a downward trend. According to incomplete statistics, Myanmar's official jadeite rough exports in 2023 decreased by approximately 15% compared to 2022, and first-quarter export data for this year is expected to remain low.
"The current market landscape is an inevitable outcome of supply-demand imbalance," stated Professor Li Ming, a renowned jade appraisal expert and senior advisor to the Gem & Jewelry Trade Association of China, in an interview with our reporter. "On one hand, jadeite mining in Myanmar is under strict control, and high-quality mine resources are increasingly depleted; on the other hand, global demand for high-end jadeite, especially from the Chinese market, continues to be robust. This 'scissors effect' directly pushes up the prices of top-tier rough." Professor Li further analyzed that as consumers' appreciation for jadeite's cultural and collection value grows, the appeal of investment-grade jadeite strengthens, further intensifying competition in the high-end market.
Data indicates that the average price increase for 'ice-kind' and 'glass-kind' jadeite rough this month reached 8%-12%, with individual pieces of exceptional quality seeing increases exceeding 15%. In contrast, price fluctuations for mid-to-low-end jadeite rough, such as 'glutinous-kind' (nuo zhong) and 'bean-kind' (dou zhong), were confined to a 2%-5% range, with some ordinary materials even experiencing a lack of transactions despite listed prices. This polarized market performance reflects the industry's high sensitivity to resource scarcity and consumers' ultimate pursuit of quality.
Mr. Wang, a veteran buyer at the Shenzhen Shuibei International Jewelry Trading Center, told reporters: "To acquire a high-quality 'ice-kind' or 'glass-kind' rough now, one not only needs to pay a high price but also relies on connections and luck. Often, the goods are pre-ordered even before they reach the market. This is especially true for materials with unique green hues or distinct textures, which are incredibly rare and sought after."
Looking ahead, industry consensus suggests that the tight supply of Myanmar jadeite rough is unlikely to ease in the short term. As premium resources become even scarcer, prices for high-end jadeite are expected to continue their upward trajectory. However, for the mid-to-low-end market, finding differentiation and enhancing product added value amidst fierce competition will be a crucial challenge for many businesses. Experts recommend that the industry strengthen the promotion of jadeite culture and craftsmanship, guide consumers towards rational purchasing, and actively explore new design concepts and marketing models to adapt to evolving market challenges.
This price surge not only reaffirms the scarcity of jadeite but also signals that the global jadeite market is entering a new phase, one that places greater emphasis on quality and investment potential. For collectors and investors, accurately identifying and capturing the value of high-end jadeite will be key to future success.