Q2 2024 Hetian Jade Biyu Market Analysis Report

Q2 2024 Hetian Jade Biyu Market Analysis Report

I. Market Overview and Price Data

In Q2 2024, the Hetian Jade Biyu (Biyu) market generally showed a stable yet upward trend, particularly in the high-end boutique Biyu segment, where market activity significantly increased. Consumers' awareness and acceptance of Biyu continued to rise, coupled with the resurgence of jade cultural consumption, jointly driving the steady development of the Biyu market.

Price Range and Fluctuation:

* Ordinary Material (mainly Russian and Qinghai material): Price range between 1,000-5,000 RMB/kg, with a slight increase of 2-3% quarter-on-quarter. Primarily used for medium-to-low-end products such as carvings and bead strings.
* Mid-range Material (spinach green, apple green, fine texture): Price range between 8,000-30,000 RMB/kg, up 5-8% quarter-on-quarter. Such Biyu is favored by the market due to its pure color and good oiliness, with stable growth in transaction volume.
* High-end Material (old mine spinach green, duck-egg green, porcelain white base, no or minimal structure): Price range between 50,000-200,000 RMB/kg, with some extremely fine pieces exceeding 300,000 RMB/kg. Up 8-15% quarter-on-quarter. High-end Biyu is scarce, highlighting its collection value and being the main driver of price increases.
* Top Collector Grade (Russian material from Mine No. 7, top Canadian Biyu, pure color, excellent oiliness, no black spots, no flaws): Price range exceeding 200,000 RMB/kg, even reaching over 500,000 RMB/kg. This type of Biyu saw the most significant increase, up 15-20% quarter-on-quarter.

Trading Volume:

The total trading volume of the Hetian Jade Biyu market in this quarter was approximately 1,200-1,500 tons (converted from raw stones and finished products), an increase of about 10% quarter-on-quarter. Among them, the proportion of transactions for mid-to-high-end Biyu increased, indicating a shift in market consumption structure towards quality and collection.

II. Market Trend Analysis and Forecast

• Strengthening Trend of Quality Consumption: As consumers' appreciation for jade improves, their demand for Biyu quality also increases. In the future, high-quality, rare Biyu will continue to be sought after, with greater potential for price appreciation.


• Origin Segmentation: Russian Biyu will remain the market mainstream due to its advantages in color, oiliness, etc. At the same time, Canadian Biyu (especially BC jade) is gaining increasing market recognition for its unique color and texture, and is expected to capture a larger market share in the future. Qinghai Biyu and Xinjiang Manasi Biyu mainly cater to the mid-to-low-end market.


• Enhanced Cultural Added Value: Carving craftsmanship and works by renowned artists will bring higher added value to Biyu products. Biyu works with cultural connotations and artistic value will further unleash their collection and investment potential.


• Integration of Online and Offline: Online live streaming and e-commerce platforms are playing an increasingly important role in Biyu sales, expanding sales channels and enhancing market transparency. In the future, the integration of online and offline will become the norm.


• Stable to Upward Price Trend in the Short Term: It is expected that the Hetian Jade Biyu market will continue to maintain a steady growth trend in Q3, especially with high-end Biyu prices still having room for appreciation, although the increase may flatten.

III. Price Comparison of Different Quality Grades

| Quality Grade | Main Origin | Typical Characteristics | Market Price (RMB/kg) | Remarks |
| :------------ | :------------- | :------------------------------------------------------------------------------------ | :-------------------- | :------------------------------------------- |
| Ordinary | Russian, Qinghai | Grayish color, more black spots, strong structural feel | 1,000-5,000 | Mainly used for bead strings, small carvings |
| Mid-range | Russian, Canadian | Spinach green, apple green, fine texture, good oiliness, some black spots | 8,000-30,000 | Mainstream in the market, high cost-performance |
| High-end | Russian, Canadian | Old mine spinach green, duck-egg green, pure color, good oiliness, indistinct structure, no or very few black spots | 50,000-200,000 | Entry-level collection, with some investment value |
| Top Grade | Russian (Mine No. 7), Canadian | Extremely pure color, excellent oiliness, strong greasy feel, no black spots, no flaws, almost no structure | 200,000-500,000+ | Rare treasures, extremely high collection value, volatile prices |

IV. Investment Advice

• Prioritize High-Quality Scarce Resources: Investment should focus on high-quality, scarce Biyu, such as Russian material from Mine No. 7, top Canadian Biyu like old mine spinach green, and duck-egg green. These resources have strong resistance to decline and appreciation potential.


• Focus on Jade Quality, Not Just Origin: While Russian Biyu generally performs well, not all Russian material is worth investing in. More attention should be paid to key indicators of the jade quality itself, such as fineness, oiliness, purity of color, presence or absence of black spots and flaws.


• Emphasize Carving Craftsmanship and Cultural Added Value: Exquisite carving craftsmanship and unique designs can significantly enhance the artistic value and market price of Biyu. Works by renowned artists or themes with cultural connotations have greater collection and investment potential.


• Long-Term Holding, Avoid Short-Term Speculation: Jade investment is a long-term investment. Prices can fluctuate significantly in the short term, so it is not advisable to blindly chase highs or trade frequently. Long-term holding of high-quality Biyu can yield steady returns.


• Beware of Counterfeits and Over-Optimization: The market contains counterfeit products such as dyed and glued jade, as well as over-optimized Biyu (e.g., acid washing, excessive polishing). When purchasing, be sure to choose reputable sellers and request authoritative appraisal certificates.


• Diversify Investments, Act Within Your Means: Investors are advised to appropriately diversify investments within their financial capabilities, not concentrating all funds on a single category. At the same time, investing in jade should be based on one's economic strength and risk tolerance.

Summary: The Hetian Jade Biyu market showed strong performance in Q2 2024, with the investment value of high-quality Biyu becoming increasingly prominent. Looking ahead, as consumers deepen their understanding of jade culture and pursue quality, the Biyu market is expected to continue its healthy and sustainable development.