Recent Engagement with the Chinese Precious Metals Market

Mon July 27 2026

Throughout 2026, LBMA has continued to engage with the precious metals market across Asia, including Singapore, Hong Kong and mainland China, working closely with Members, exchanges, regulators and other industry stakeholders.

Highlights from LBMA's engagements in China during July include:

2026 Shanghai Platinum Week (SPW) - 7 July 2026, Suzhou

LBMA representatives attended the 2026 Shanghai Platinum Week (SPW) in Suzhou on 7 July 2026. LBMA CEO Ruth Crowell delivered a speech at the opening ceremony on the morning of 7 July, titled "New Opportunities for the Development of the Platinum Group Metals (PGM) Market."

Drawing on trading data from the London OTC gold market, Ruth introduced how LBMA continuously evolves to meet market demands. In recent years, LBMA has implemented a series of measures to enhance market integrity, including recommendations for International Bullion Centres, the Gold Bar Integrity Programme, revisions to the Responsible Gold Guidance, and the upcoming rollout of the 10th edition in 2027.

Ruth also shared LBMA's valuable experience from the gold market, such as fostering global trust through advancing standards, improving liquidity to drive market depth, and promoting regional collaboration to support growth across various regions while advancing the global market.

Ruth noted that the global PGM market has its own unique characteristics and faces new development challenges in the current era. She expressed her hope that LBMA's experience in the gold market would serve as a useful reference for the PGM sector.

Opening Ceremony of Metalor Precious Metals (Suzhou) Co., Ltd. New Factory - 9 July 2026, Suzhou

An LBMA delegation attended the inauguration ceremony of the new factory of Metalor Precious Metals (Suzhou) Co., Ltd. on July 9, 2026. LBMA CEO Ruth Crowell was present as a distinguished guest and delivered a speech at the opening ceremony. Other notable attendees included Wang Lixin, CEO of the World Gold Council (China); and representatives from the Suzhou Industrial Park, China Poly Arts & Crafts Group, and the Industrial and Commercial Bank of China (ICBC), among other institutions.

In her speech, Ruth noted that Metalor (Suzhou) is the fifth refinery within the Metalor Group to obtain LBMA Good Delivery accreditation, and that Metalor is the group with the highest number of LBMA-accredited refineries worldwide.

Metalor (Suzhou) holds several key credentials, including being a Shanghai Gold Exchange standard gold bar supplier, an LBMA Good Delivery refiner, and a Guangzhou Futures Exchange platinum deliverable refiner. These accreditations

form the foundation of its presence in the global market and reflect the deep alignment of China's precious metals market with international standards.

China International Gold Conference - 16-17 July 2026, Lanzhou, Gansu

On 16–17 July 2026, Doris Bao, LBMA's China Consultant, represented LBMA at the China International Gold Conference held in Lanzhou, Gansu Province. During the conference, Doris engaged in active discussions with the organisers, the China Gold Association, providing an update on LBMA's promotional efforts and collaborative progress in Asia this year. She also held in-depth exchanges with other market participants, including the World Gold Council and leading Chinese banks, on recent developments and peculiarities in the international market environment, as well as the responses and strategies adopted by Chinese banks in light of these changes.

Source: https://www.lbma.org.uk/