China will launch platinum, palladium futures in Q1, producers' council says
Tue Oct 15 2024
The Guangzhou Futures Exchange (GFEX) is expected to launch its first platinum and palladium futures contracts in China in the first quarter of 2025, Weibin Deng, head of Asia Pacific at the World Platinum Investment Council (WPIC), told a conference.
The contracts will be the first domestic price-hedging mechanism for platinum and palladium in the world's second-largest economy, where the metals are used by auto makers and other industries, including jewellery and investment products.
The GFEX declined to comment.
The WPIC, whose five members are major platinum producers, hopes hedging will help revive demand for platinum jewellery, Deng told the London Bullion Market Association's annual conference in Miami on Monday.
Source: https://www.miningweekly.com