FOCUS GEMSWORLD | 12 | 2023 Buyers are also becoming more accepting of other sapphire colours. Chinese consumers used to favour only Royal Blue and Cornflower Blue sapphires but are now regularly looking for lighter colours such as pink or peach. The European market is also more open to other, more unconventional sapphire colours. Growth in 2022 was mainly fuelled by the US, followed by Europe and some business from China amid restrictions. Sammoon also remains upbeat about prospects in 2023 for the sapphire sector, driven by robust market demand. “Buyers have become more knowledgeable and are constantly on the lookout for special gems. We expect this trend to continue throughout 2023 despite ongoing economic hurdles. Sapphires will always remain highly sought after in the trade,” he added. Market overview The year 2022 sawmarked improvements in the coloured gemstone trade, with many dealers using stronger sales in the ruby, sapphire and emerald markets as benchmark for growth. According to A. Wahid Ansari, director at Thailandbased emerald specialist Ansabro Gem Co Ltd, top-quality emerald, ruby and sapphire of 1 carat to 5 carats are moving the fastest. Citing market trends, he said per-carat prices, which hugely depend on the stone quality, currently stand at US$200 to US$5,000 a carat for ruby, sapphire and emerald. Ansabro’s major markets are China, Europe and the US, but Asia is also showing promise, noted Ansari. “Myanmar and Vietnam are exhibiting signs of improvement,” he added. “We are optimistic about prospects in 2023, but it is crucial for China to reopen. If this does not happen early in 2023, it could have a tremendous impact on global trade.” Consumer appetite for coloured gemstones is on the rise, especially for goods bearing exceptional colours, remarked Kamal Hira of Hong Kong-based SM Gems Ltd. The company is seeing increased demand for Paraiba tourmaline, Santa Maria aquamarine, alexandrite and most recently, Mexican fire opal. “These gems are moving fast. We expect Japan and the US to fuel growth in the coloured gemstone sector in 2023. However, China, which is a traditionally strong market for gemstones, will continue to face challenges,” said Hira. Apart from Japan and the US, Singapore and the Philippines are likely to bolster the gemstone trade, especially for Paraiba tourmaline. Prices are exceptionally high owing to high demand and tighter supply. “Good colours are harder to come by. Out of 100 pieces, you only get 10 with top colours. There is just not enough supply to meet the demand. With finer-quality stones however, the value is only expected to go up, so we have upbeat expectations,” added Hira. Ruby and emerald prospects According to Banks, there is also huge potential for coloured gemstones in China moving forward, given that consumers enjoy both colour and the associated meanings of coloured gems. The opportunity is likewise ripe to meet the Chinese market’s growing appetite for responsibly mined gems and sustainable business practices. Citing data from Guild Gem Laboratories, Banks said at least 60 per cent of emeralds coming into China are from Zambia while Mozambique accounts for at least 60 per cent to 70 per cent of China’s total ruby intake. Apart from China, the Indian market is poised to stay resilient, thanks to strong demand across quality ranges. The US and European markets, meanwhile, are also showing signs of promise, with gradual growth expected. “The past decade has seen a robust upward pricing trend for coloured gemstones, with Greater China emerging as an increasingly important market for Gemfields, becoming integral to our company’s growth strategy,” continued Banks. Sapphires Meanwhile, the sapphire business is also benefiting from solid market demand and strong prices, revealed Armil Sammoon, chairman of Sapphire Capital Group and Sapphire Cutters Ltd of Sri Lanka. “We have been seeing an upward trend, especially during the international gem shows, with customers who were unable to purchase throughout the pandemic having to restock their inventories. Some had very specific requirements,” remarked Sammoon. He said 2-carat to 5-carat sapphires in all colours and shades moved the fastest, and with steady demand, prices have increased 20 per cent to 30 per cent depending on the quality of the gem. Emerald 祖母绿
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