Platinum Jewellery Outshines Gold in China

peaceandlove · 12-21-2009, 08:30 AM

Platinum Jewellery Outshines Gold in China

December 20, 2009 22:25:00 IST

Chinese jewellery demand has been tremendously strong in 2009, a new report from UK-refiner Johnson Matthey confirms. But how long can it keep on growing?

It's been clear that China's demand for platinum has been exceptional in the last 12 months. There are two key and relatively timely sources of data about the Chinese market - the country's imports of platinum, both direct and via Hong Kong, and turnover on the Shanghai Gold Exchange (SGE). Both have been very strong since Q4 2008, and that has continued through most of 2009. The chart below shows net imports of unwrought platinum into China & Hong Kong since the start of 2008.

After a rather subdued first nine months of 2008, on the back of the extremely high platinum price and restricted supply (due to the power crisis in South Africa), China’s demand really took off in September 2009 as the price crashed, and has remained strong ever since. It dipped in June this year but has slowly recovered. October data is only available for direct China imports, and this shows these falling back to 79,048 oz, the lowest since December 2008.

Continues: http://www.commodityonline.com/news/...24035-3-1.html

12-21-2009, 08:30 AM	#1
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	Platinum Jewellery Outshines Gold in China Platinum Jewellery Outshines Gold in China December 20, 2009 22:25:00 IST Chinese jewellery demand has been tremendously strong in 2009, a new report from UK-refiner Johnson Matthey confirms. But how long can it keep on growing? It's been clear that China's demand for platinum has been exceptional in the last 12 months. There are two key and relatively timely sources of data about the Chinese market - the country's imports of platinum, both direct and via Hong Kong, and turnover on the Shanghai Gold Exchange (SGE). Both have been very strong since Q4 2008, and that has continued through most of 2009. The chart below shows net imports of unwrought platinum into China & Hong Kong since the start of 2008. After a rather subdued first nine months of 2008, on the back of the extremely high platinum price and restricted supply (due to the power crisis in South Africa), China’s demand really took off in September 2009 as the price crashed, and has remained strong ever since. It dipped in June this year but has slowly recovered. October data is only available for direct China imports, and this shows these falling back to 79,048 oz, the lowest since December 2008. Continues: http://www.commodityonline.com/news/...24035-3-1.html