FOCUS 焦点 GEMSWORLD | 12 | 2025 With more stones now available, Belmont has started building a presence in this market, appealing to Chinese consumers who are drawn to the vibrant green colour and the unique appeal of Brazilian gems. Ribeiro believes that a stronger Chinese economy could boost buyer interest as awareness of Brazilian emeralds is rising. Despite economic challenges, the charm of highquality emeralds with compelling origin stories continues to attract affluent buyers in Asia. “Chinese companies are still attending auctions, which indicates there is an ongoing interest, but the current economic environment may be slightly tempering growth in that region,” he added. Rupak Sen, chief marketing officer of Fura Gems, said China is still among the top three markets for ruby, sapphire and emerald. While India is growing and the US is stable, China is seeing a steady decline owing to economic uncertainties and unprecedented spikes in gold prices. A global market recovery, however, is in the offing. “We expect the market to rebound in 2025. We are already seeing an uptick in consumer demand coming from the US,” explained Sen. “We anticipate India to also see increased demand in the first quarter of 2025 while China could show positive signs in the second half of 2025.” Echoing prevailing market sentiments, Sen also said demand for top-quality gemstones remains steady, but supply is tight. For instance, there is high interest in 10-caratplus Colombian emeralds in the US$2,000 to US$5,000 a carat price range from India. Demand for calibrated sizes of rubies, meanwhile, is also on the rise. Glittering future Coloured gemstones’ ascent to prominence has been gradually taking place over the years, with buyers’ quest for rarity and personalisation ever more influencing their purchasing decisions. According to Raphael of House of Gübelin, several factors are contributing to this. “People are seeking more sophisticated choices. In this scenario, knowledge and education about gemstones also play an important role,” he remarked. “We see a growing interest in our coloured gemstone classes at our Academy. The more you know about the story, history and formation of the gem, the more you appreciate it.” Cody of ICA said fiscal constraints are expected to ease throughout 2025, providing increased business certainty and stability. This, in turn, could bode well for the coloured gemstone sector. The emergence of new marketing prices for fine-quality lots aligning well with limited supply. Encouragingly, new entrants with well-developed supply chains placed successful bids at our actions.” To support stability, Gemfields withholds certain lots that do not achieve satisfactory bidding at auction. This is aimed at fostering a more secure and sustainable coloured gemstone market. Majority of Gemfields’ buyers at auction are from India – the largest trading centre for rough and polished emeralds – and Thailand – the largest trading centre for rough and polished rubies. On the consumption level, the US and China remain the world’s largest jewellery markets, revealed Hing. Sharing Cody’s observations, Hing said there are also promising indicators of growth in India and the Middle East. “The new US administration has suggested that it may pursue tax reforms, which could potentially stimulate the US gemstone and jewellery segment,” said the Gemfields official. “It has also proposed changes to tariffs, which could have a counterbalancing effect, particularly in exportoriented economies.” Major jewellery market and exporter China, meanwhile, is eyeing to implement measures to stimulate the economy, he added. “Early signs from the recent stimulus package appear to be broadly positive but it is too soon to tell what the long-term effects will be,” explained Hing. China China’s economic woes have had a minimal impact on demand for emeralds in Asia, according to Marcelo Ribeiro, president of Brazilian emerald producer Belmont Group. “China has not traditionally been a major market for us," he said. “While Chinese buyers regularly participate in our auctions and often win bids, their interest has been relatively modest compared to the demand we see from the West.” According to Ribeiro, increased production at Belmont mines has allowed the company to expand its reach to China. “Only recently have Belmont mines began to penetrate the Chinese market, thanks to increased production. Previously, our emeralds were in such high demand in Western markets that production could not support entry into China,” noted Ribeiro.
RkJQdWJsaXNoZXIy NjAxOTU=