Platinum the decrease in imports in the first 8 months in 2014-Iota

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News > Dynamic industry > Platinum the decrease in imports in the first 8 months in 2014

Platinum the decrease in imports in the first 8 months in 2014

"January to August this year, total imports of platinum 46.39 tons, compared to last year dropped 18.84 percent."
Production of platinum group metals is very small, in which platinum annual production of around 1.5 tons, but demand reached 70 tons or more, therefore, the domestic consumer demand for platinum, basically rely on imports to meet. 2013, Chinese platinum consumption volume grew 74 percent, the highest domestic high, platinum imports also hit a record high, reaching 93.09 tons, an increase of 23.2% over 2012.
Ji Long believes that in view of the sharp rise in imports of platinum last year, a lot of platinum and platinum jewelry processing enterprises enterprises to increase the platinum stocks.
"Platinum jewelery demand is mainly used for marriage market, its demand is relatively rigid; this year in support of national policies, the fiberglass industry began to bottom out, thereby increasing the demand for platinum at the same time, China's oil processing capacity enhancement, silicone is developing rapidly. of platinum also have higher demand. "Speaking of said strong demand for platinum Ji Long March.
However, China's relatively low grade platinum group metal mineral resources, at present, only the Jinchuan Group in scale mining stage, and low yields. As of 2012, China's identified platinum group metal mineral 42, proved reserves 374.05 tons. The past 10 years, the effect of China made of platinum group metals exploration and less obvious.
Long Ji said that China's demand for platinum, but less production, imports also subject to certain restrictions, some visionary mining companies began to "go out", to South Africa, Zimbabwe and other platinum resource-rich countries in resource development.
From the international market, the impact of platinum prices, inadequate electricity supply, production costs continue to increase and other factors, at present, many mines are in the breakeven point, the South African platinum group metal production enterprises to resume production after the strike hard, resulting in platinum production increases more difficult, or even shrink further.
In the domestic market, Ji Long believes that the development of platinum group metals industry is facing Innovative, cutting-edge power insufficient investment, independent innovation capability is weak, the high-tech R & D investment in the field of precious metals and many other issues is not enough to meet domestic demand for platinum group metals, rely on imports.
"At present, China's smaller platinum group metals recycling business, especially with the severe competition in the industry, which is not conducive to the development of China's platinum group metals industries. A large portion of domestic waste containing platinum group metals are shipped abroad, resulting in China PGMs resources and the loss of tax revenue. in addition, the lack of adequate domestic market hedging platform, fluctuations in the price of platinum to the daily operations of the enterprise is a big challenge. "Ji Long said.

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