Flow of Contraband Amber to China Continues
The consortium’s information agency has received reports from unofficial sources that in late December, seven tonnes of Ukrainian amber were smuggled from Hong Kong to China. The information is confirmed by the significant increase in amber raw material supply and the drop in prices on the Chinese market. To verify this fact, informal negotiations were held with suppliers of Ukrainian amber raw materials on the Chinese market. The above information has proven to be completely true.
In addition, unofficial sources have stated off the record that since September 2017, some 1–1.5 tonnes of top-quality premium Russian amber have been being smuggled into China via Beijing every month. A representative of the consortium was a witness to purchasing this raw material for a Chinese manufacturer (video attached).
Based on this information, we can conclude that the Chinese market continues to be shaken by an excess of amber raw materials and amber products, and this is prompting a further drop in prices and demand for goods in the amber market.
Information source: Le’amber Consortium