Q2 2024 Market Analysis Report for Icy Jadeite (Nuozhong)

Q2 2024 Market Analysis Report for Icy Jadeite (Nuozhong)

I. Market Overview and Price Data

In the second quarter of 2024, the market for Nuozhong (icy jadeite) generally showed a steady upward trend. Influenced by the recovery of the macro-economy, increased consumer purchasing power, and the continuous tight supply of jadeite rough, prices for mid-to-high-end Nuozhong jadeite performed particularly strongly. Compared to the same period last year, the average price of Nuozhong jadeite increased by approximately 5% to 10%, with high-quality Nuohuazhong (glutinous-ice-like) jadeite seeing increases of over 15%.

Price Ranges and Fluctuations:

* Ordinary Nuozhong (slightly coarse texture, average translucency): Price range of 1,500 - 8,000 RMB/piece (bracelets, pendants, etc.), a quarter-on-quarter increase of about 3-5%.
* Fine Nuozhong (fine texture, good translucency): Price range of 8,000 - 30,000 RMB/piece, a quarter-on-quarter increase of about 5-8%.
* Nuohuazhong (close to ice jadeite, with a gelatinous and fluorescent feel): Price range of 30,000 - 150,000 RMB/piece, a quarter-on-quarter increase of about 8-15%.
* High-Icy Nuozhong (high transparency, close to ice jadeite, with obvious fluorescence): Price range of 150,000 - 500,000 RMB/piece, a quarter-on-quarter increase of about 10-18%.

Trading Volume:

Overall trading volume for Nuozhong jadeite across online and offline platforms increased by approximately 12% this quarter compared to the previous quarter. Among these, mid-to-high-end Fine Nuozhong and Nuohuazhong saw the most active trading, accounting for over 60% of the total transactions. Consumers' pursuit of quality is steadily increasing, making high-quality Nuozhong products with good value more popular.

II. Market Trend Analysis and Forecast

• Increased Quality Differentiation: Demand for high-quality Nuozhong jadeite remains strong, driving significant price increases. In contrast, ordinary Nuozhong jadeite, due to relatively ample supply, has seen limited price increases, with some less attractive pieces even facing stagnation. This quality differentiation is expected to become more pronounced in the future.


• Tight Rough Stone Supply: Stricter mining policies for jadeite rough in Myanmar and the depletion of high-quality rough resources continue to drive up upstream costs. This will directly translate to the retail market, supporting the long-term upward trend in Nuozhong jadeite prices.


• Consumption Upgrade and Aesthetic Enhancement: With the improvement of national economic levels, consumers' understanding and aesthetic appreciation of jadeite are also rising. They are no longer blindly pursuing "ice jadeite" but are paying more attention to the fineness of Nuozhong jadeite's texture, translucency, color, and craftsmanship. This provides a broader market for high-quality Nuozhong jadeite.


• E-commerce and Live Streaming Sales: Online channels are playing an increasingly important role in jadeite sales. The rise of live streaming sales has improved the circulation efficiency and transparency of Nuozhong jadeite, though it also comes with certain identification risks. A blend of online and offline sales is expected to become the mainstream in the future.

Forecast: The Nuozhong jadeite market is expected to maintain steady growth over the next six months to a year. Prices for high-quality Nuohuazhong and higher grades of jadeite still have room for appreciation, with an estimated increase of 5%-15%. Ordinary Nuozhong prices are expected to remain stable or fluctuate slightly.

III. Price Comparison by Quality Grade

| Quality Grade | Texture Description | Translucency Description | Common Colors | Market Price Range (RMB/piece) | Quarter-on-Quarter Increase |
| :------------ | :------------------ | :----------------------- | :------------ | :----------------------------- | :-------------------------- |
| Ordinary Nuozhong | Slightly granular | Average | Light Green, Oil Green | 1,500 - 8,000 | 3-5% |
| Fine Nuozhong | Not obviously granular, fine | Good | Vibrant Green, Clear Water | 8,000 - 30,000 | 5-8% |
| Nuohuazhong | Fine texture, gelatinous feel | Very good, close to ice jadeite | Vibrant Green, Clear Water, Lavender | 30,000 - 150,000 | 8-15% |
| High-Icy Nuozhong | Extremely fine texture, high transparency | Excellent, close to ice jadeite, with fluorescence | Imperial Green, High-Icy Clear Water | 150,000 - 500,000 | 10-18% |

Note: The above prices are reference prices for common finished products like bracelets and pendants. Specific prices are significantly influenced by factors such as color, size, craftsmanship, and flaws.

IV. Investment Advice

• Focus on High-Quality Nuozhong: For investment or collection, prioritize Fine Nuozhong, Nuohuazhong, or even High-Icy Nuozhong jadeite with fine texture, good translucency, pure color, and no obvious flaws. Such products not only have aesthetic value but also high potential for preservation and appreciation.


• Emphasize "Zhong, Shui, Se, Gong" (Type, Translucency, Color, Craftsmanship): When selecting Nuozhong jadeite, comprehensively consider the four major elements: "Zhong" (type) is the foundation, with Nuohuazhong and above being preferable; "Shui" (translucency) determines clarity and liveliness; "Se" (color) favors positive colors like vibrant green, clear water, and lavender; and "Gong" (craftsmanship) reflects artistic value.


• Avoid Low-End Common Goods: The market has a large supply of ordinary Nuozhong jadeite with limited appreciation potential, making them not recommended as primary investment choices. For low-end products with poor appearance or obvious flaws, exercise caution to avoid impulsive purchases.


• Choose Reputable Channels: Always purchase jadeite from reputable merchants or platforms with professional appraisal qualifications, and request authoritative appraisal certificates. For online purchases, it's advisable to choose platforms that support returns and exchanges and third-party appraisals to mitigate risks.


• Long-Term Holding, Rational Investment: Jadeite investment is a long-term endeavor, and short-term fluctuations are difficult to predict. Investors should remain rational, avoid speculative mindsets, and approach it with a mindset of collection and inheritance.

Summary: The Nuozhong jadeite market performed steadily in the second quarter of 2024, with the investment value of high-quality Nuozhong jadeite becoming increasingly prominent. Against the backdrop of increasingly scarce rough resources, the long-term appreciation potential of high-quality Nuozhong jadeite is promising. Investors should grasp market trends, carefully select high-quality products, and conduct transactions through legitimate channels to achieve asset preservation and appreciation.