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A "terminated" blue Madagascar rough sapphire refers to a sapphire crystal that has reached a natural point or end (a terminated point) while still in its rough, uncut form. The term "terminated" in gemology refers to the natural shape or endpoint of a crystal, where the growth of the crystal has finished or stopped, creating a distinct, often flat or pointed, surface at the top or bottom of the crystal.

For blue sapphires from Madagascar:

1. Quality: When a sapphire is labeled as "terminated," it suggests that the crystal has grown to its natural endpoint and may have unique characteristics. Blue Madagascar sapphires can range in color from lighter, steely blues to deep, vibrant blues. The clarity and transparency of rough sapphires vary, and terminated crystals are often prized by collectors or cutters who see potential in the shape and color of the crystal.

2. Rarity: Terminated blue Madagascar sapphires in rough form are relatively rare. Not all rough sapphires will form distinct, well-terminated shapes. In the rough state, sapphires often appear as irregular masses or jagged fragments. A terminated sapphire crystal indicates a more complete or well-formed specimen, which can be valuable for gemstone cutting.

3. Market Value: The value of terminated blue Madagascar rough sapphires depends on several factors, including the size of the crystal, its color, its clarity, and whether it has been pre-treated or enhanced in any way. Rough sapphires with clear, vibrant blue colors, especially those with good clarity and symmetry in their termination, are considered more valuable.

In conclusion, a terminated blue Madagascar rough sapphire is a crystal that has reached a natural point in its growth, and if it possesses the right qualities, it could be quite rare and valuable for cutting into finished gemstones.