Page 35 - Bullion World Volume 4 Issue 10 October 2024

P. 35

In recent years the range of platinum investment
products available in China has expanded considerably.
For example, the iconic Panda coin is now once again
available in platinum, and last year CGCG included a
15g platinum coin in its Zodiac series and produced its
first platinum bar as part of its Year of the Dragon range.
Earlier this year, Metalor introduced a 1kg minted bar
and we are seeing strong interest from investors in large-
sized bars, 500g and larger.

This increased product availability, improved supply
chain, and wider awareness of platinum and platinum
investment has resulted in unprecedented growth in bar
and coin investment demand in China – rising from 31
koz in 2019 to 186 koz in 2023 and forecast to grow by
a further 34 per cent year-on-year to 250 koz in 2024.
Purchases of larger bullion bars, of 500g or above, are a
key driver of this growth.
1kg platinum bar from Metalor China
While awareness of platinum as an investment asset
continues to grow in China, market liquidity remains
a headwind for investment, jewellery and industrial
participants. We eagerly await the launch of Guangzhou
Futures Exchange’s much-anticipated platinum and
palladium futures, enabling users of these metals
in China to hedge price risk – on-shore and in local
currency. This development could be a game-changer,
enhancing the overall stability and efficiency of the
platinum market in China, reducing costs and boosting
demand to the benefit of all participants.

Platinum Dragon bars from Yue Xin

China has become the most important market for bar and coin investment globally. Source: Metals Focus, WPIC
Platinum Quarterly Q2’24

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