Q2 2024 Turquoise (Qingu Material) Market Analysis Report
I. Market Overview and Price Data
In Q2 2024, the turquoise Qingu material market generally showed a stable yet upward trend, especially for high-quality raw ore and exquisite finished products, where market activity was high. Influenced by tightening policies in the producing areas, increasing mining costs, and sustained strong market demand, the price of Qingu material remained firm, with some categories even experiencing slight increases.
1. Price Range and Fluctuation:
* High-Porcelain High-Blue (Wulan Hua, Rapeseed Yellow): Raw ore prices ranged from 1200 - 3500 CNY/gram, while exquisite finished products (e.g., carvings, bead strings) could reach 4000 - 8000 CNY/gram or even higher. This quarter saw an average increase of 3-5% compared to the previous quarter.
* Medium-Porcelain High-Blue (Sky Blue, High-Blue Material): Raw ore prices ranged from 600 - 1500 CNY/gram, with finished product prices between 1800 - 3500 CNY/gram. Prices remained largely stable this quarter, fluctuating within ±2%.
* Medium-Porcelain Medium-Blue (General Blue, Greenish Blue): Raw ore prices ranged from 200 - 600 CNY/gram, with finished product prices between 800 - 1800 CNY/gram. Prices slightly increased this quarter, with a rise of about 1-3%.
* Low-Porcelain High-Blue/Medium-Porcelain (Iron-line Material, Spongy Turquoise): Raw ore prices ranged from 50 - 200 CNY/gram, with finished product prices between 150 - 500 CNY/gram. Prices were relatively stable.
2. Trading Volume:
The total trading volume of turquoise Qingu material (by weight) in this quarter slightly decreased compared to the previous quarter, but the total transaction value remained stable or even slightly increased, mainly due to the higher unit price of high-quality materials. Trading activity on both online platforms and professional offline markets (such as Shiyan, Xiangyang) was high. The estimated total trading volume for Qingu material this quarter is approximately 1500-2000 kilograms (converted from raw ore and finished products), with a total transaction value of approximately 250-350 million CNY.
II. Market Trend Analysis and Forecast
1. Origin Policies and Resource Scarcity: As an important producing area for high-quality turquoise, Hubei Qingu's mining policies continue to tighten, and environmental protection requirements are becoming increasingly stringent, making it difficult to significantly increase the supply of raw ore. This scarcity is a core factor supporting the high prices of Qingu material and will persist in the long run.
2. Increased Consumer Awareness: With the popularization of turquoise culture and collection value, consumer awareness and recognition of Qingu material continue to rise, especially the strong pursuit of top-grade qualities such as high-porcelain high-blue and Wulan Hua.
3. Investment and Collection Demand: In the current macroeconomic environment, some investors are turning their attention to artworks and collectibles with potential for value preservation and appreciation. Turquoise Qingu material, due to its unique gemological characteristics and cultural attributes, has become an important investment target.
4. Market Segmentation and Refinement: The future market will be further segmented, with high-quality, uniquely designed finished products becoming more sought after. Prices for ordinary quality materials may fluctuate relatively little, but the trend towards refinement will drive overall value appreciation.
Forecast: It is expected that the turquoise Qingu material market will continue to show steady growth in the second half of 2024. Prices for high-quality materials still have room for increase, but the growth rate may slow down. Prices for mid-to-low-end materials will remain stable, but market demand for quality will become increasingly stringent. Origin policies and the international economic situation remain important variables affecting the market.
III. Price Comparison of Different Quality Grades
| Quality Grade | Raw Ore Price Range (CNY/gram) | Finished Product Price Range (CNY/gram) | Key Characteristics |
| :---------------------- | :----------------------------- | :------------------------------------- | :-------------------------------------------------- |
| High-Porcelain High-Blue | 1200 - 3500 | 4000 - 8000+ | Extremely high porcelain, pure color, sky blue, Wulan Hua, rapeseed yellow |
| Medium-Porcelain High-Blue | 600 - 1500 | 1800 - 3500 | Good porcelain, pure color, sky blue, high blue |
| Medium-Porcelain Medium-Blue | 200 - 600 | 800 - 1800 | Decent porcelain, greenish or general blue color |
| Low-Porcelain/Iron-line Material | 50 - 200 | 150 - 500 | General porcelain, uneven color, obvious iron lines, spongy material |
IV. Investment Recommendations
1. Prioritize High-Quality Raw Ore and Exquisite Finished Products: When investing in turquoise Qingu material, prioritize top-grade qualities such as high-porcelain high-blue, Wulan Hua, rapeseed yellow raw ore, and exquisitely carved, uniquely designed finished products. These products have stronger resistance to depreciation and appreciation potential.
2. Pay Attention to Origin and Channels: Ensure that the purchased Qingu material comes from a reliable source, preferably through reputable dealers or professional platforms, to avoid buying optimized, glued, or counterfeit products.
3. Acquire Professional Knowledge: Investors should strengthen their knowledge of turquoise identification, understanding key indicators such as porcelain degree, color, iron lines, and clarity, to improve their ability to distinguish.
4. Long-Term Holding Strategy: The value growth of turquoise is often a long-term process. It is recommended to adopt a long-term holding strategy and avoid short-term speculation.
5. Be Wary of Market Risks: Although the Qingu material market is performing strongly, it is still necessary to be wary of market speculation, false advertising, and other risks. Invest rationally and within your means.
Summary: The turquoise Qingu material market performed steadily in Q2 2024, with high-quality materials continuing to lead the price increases. Driven by resource scarcity and collection investment demand, its long-term value is affirmed. Investors should grasp the trend of refinement, focus on quality and origin, and invest rationally.