The Mandalay jade market is steadily declining because of low supply in Maha Aungmyay Gems Dealers market, Mandalay and low demand from China.
Currently, those businesses engaged in cutting and carving jade stones do not have much work to do, so they find it hard to survive in the declining market. Only high-quality jade bracelets have a small demand, whereas low quality jadeite is on the verge of no sales.
Confiscations along Mandalay-Muse Road, from which jade is illegally flowing into China, contributes to the cooling market, said gem dealers from Maha Aungmyay. The declining markets also hurt jade diggers on a manageable scale and jade workers from Phakant area, where jade mines are located.
Mainly tourists from Hong Kong, China and Japan buy jade bracelets and statues at Chanayethazan jewellery market in Mandalay.
Thiha Ko Ko (Mandalay)