Supply and Demand of Rubies
People all over the world want ruby jewelry for vintage diamond and ruby rings, estate ruby necklaces and bracelets. Because of differences in quality and price, they are available to almost everyone. Demand for rubies is highest in Japan and France but The United States imports more than any other country. Although countries like Germany, Italy, Taiwan, China, Korea and Hong Kong import large amounts of rubies, the United States imports more rubies than all these countries combined.
Thailand is the largest producer of rubies and The United States imported 61% of its rubies from that source in 2002. Thailand’s mines are almost depleted. Myanmar is an exporter of fine rubies. Mogok, Myanmar is currently the most important ruby source. Their production of beautiful rubies make some of the most impressive ruby rings, ruby bracelets and necklaces. Their rubies are endowed with vibrant red color with beautiful clarity and warm fluorescence. Switzerland is a very large exporter of rubies to The United States, but they do not have their own mines. Swiss dealers collect rubies from all over the world to sale to customers. In 2002, Switzerland provided $12 million dollars worth of ruby imports to The United States.
They imported only 13,800 carats from Switzerland making the average per carat cost about $1000 per carat. The United States spent 17% of its dollars on less than 1% of imported ruby carat weight. India is the next largest supplier to The United States. These rubies cost about $5 dollars a carat for commercial grade rubies which were mostly cabochon grade rubies. Ruby deposits in Asia supply a majority of rubies to the marketplace but because they are politically unstable, their mining techniques can be primitive to modern.