-
AboutUpholding the guiding ideology of using the association as a platform, centering on member units, and taking industry development as our responsibility, we fully leverage the initiative of the association to create a fair, transparent, and efficient industry organization led by the enterprises.
-
NewsUpholding the guiding ideology of using the association as a platform, centering on member units, and taking industry development as our responsibility, we fully leverage the initiative of the association to create a fair, transparent, and efficient industry organization led by the enterprises.
-
ResearchUpholding the guiding ideology of using the association as a platform, centering on member units, and taking industry development as our responsibility, we fully leverage the initiative of the association to create a fair, transparent, and efficient industry organization led by the enterprises.
-
EventsUpholding the guiding ideology of using the association as a platform, centering on member units, and taking industry development as our responsibility, we fully leverage the initiative of the association to create a fair, transparent, and efficient industry organization led by the enterprises.
-
MembersUpholding the guiding ideology of using the association as a platform, centering on member units, and taking industry development as our responsibility, we fully leverage the initiative of the association to create a fair, transparent, and efficient industry organization led by the enterprises.
Write a New Chapter for a Fair, Green, Efficient, and Inclusive Precious Metals Industry – The 2025 China Precious Metals Industry Work Conference Concludes successfully
Release time:
20 Jun,2025
The 2025 China Precious Metals Industry Work Conference, hosted by the Precious Metals Industry Committee of CRRA (CPMIC) and co-organized by the China Non-ferrous Metals Industry Association Platinum Group Metal Branch (PGMCNIA), concluded successfully in Beijing on June 18, 2025. This work conference focused on discussing the urgent environmental and tax issues that need to be addressed in the development of the precious metals industry, and analyzed the reasons behind the rapid rise in gold and platinum prices.
During the conference, a solemn signing ceremony was held for the Joint Initiative on Fair Competition and High-Quality Development of the Precious Metals Industry, jointly initiated by CPMIC and PGMCNIA.
In the opening remarks, Xu Junxiang, President of CRRA, stated that the current precious metal recycling industry has a huge revenue scale but continues to face pressure on profit margins, with many enterprises struggling under heavy burdens; environmental compliance and fiscal and tax policy bottlenecks are becoming increasingly prominent, and the urgency of industrial upgrading is increasing day by day. Guo Junmei, President of PGMCNIA and General Manager of Sino-Platinum Metals Co., Ltd., also analyzed the problems currently facing the precious metals industry, such as overcapacity, vicious competition, and environmental taxes, and stressed the importance of building a healthy corporate mentality and strengthening the collaborative development of the industrial chain.
Bian Jiang, the president of CPMIC, stated that in 2024, China's output of precious metal scrap was 14,000 tons, but the recycling and processing capacity has exceeded 180,000 tons, resulting in serious overcapacity. The usage of platinum group metals has declined again, corporate profits are limited, and most companies rely on fluctuations in metal prices to survive. How to stabilize the industry's profit margins and boost platinum and palladium consumption is the key to breaking through the current industry predicament.
At the conference, CPMIC released data on precious metal recycling in the industrial sector in 2024, showing that recycling is gradually becoming a key component of China's precious metal supply structure.
The conference announced the upper and lower limits of processing fees and recovery rates for refining catalysts as guidelines, playing a key role in stabilizing the current chaotic situation in catalyst recycling.
Regarding precious metal environmental and tax policies, CPMIC specifically held a symposium attended by relevant government departments and some recycling and refining enterprises. Enterprise representatives stated that restrictions on the cross-provincial transfer of hazardous waste, the standardization of the collection of waste three-way catalysts, the unclear definition of the buyout and processing of precious metal-containing waste materials, inconsistent understanding of the tax rates on imported platinum and platinum-containing waste materials, platinum alloys, and self-produced and self-sold platinum, and the difficulty of implementing reverse invoicing for socially sourced recycling have restricted the long-term development of enterprises and urgently require the government and associations to work together to solve these problems. In addition, with the imminent listing of platinum and palladium futures products, the Guangzhou Futures Exchange invited some enterprise representatives during the working conference to further review and revise aspects such as imported brands, the quality and quantity of delivery brands, and factory warehouse sampling in the contract draft.
Regarding the recent rapid rise in gold and platinum prices, the conference specifically organized an elite dialogue session, hosted by Wang Tao, deputy editor-in-chief of China Gold News. Participants included Ma Yuwei, general manager of the business department of China Platinum Corporation Ltd.; Song Jiangzhen, deputy director of the specially appointed decision support center of CPMIC; Liu Jinshui, general manager of Shanxi Yibail Technology Co., Ltd.; Wang Rong, assistant director and chief analyst of the Guotai Junan Futures Research Institute; and Li Yang, senior gold analyst at Caibai Shares. The dialogue guests analyzed the main reasons for the price increase from different aspects and dimensions of their respective fields. US tariff policies, regional geopolitical situations, and central bank gold purchases are the main factors affecting gold price trends. As for the rise in platinum prices, in addition to the driving effect of gold prices, investment and jewelry demand are the main reasons for the recent price increase, but the amount of platinum used in the industrial sector has not changed. According to the platinum supply and demand data released by CPMIC in 2024, platinum supply was 119 tons (imports + recycling, excluding social sources), and demand was 66 tons (including jewelry and investment), clearly indicating an oversupply. Platinum reserves for jewelry are still growing rapidly, reflecting slow growth in jewelry consumption in the market, which is not optimistic. To boost platinum consumption, investment and jewelry are currently seen as breakthroughs, while industrial applications still need to be driven by technological innovation and material development.
In the special report session of the work conference, Liu Meixia, director of CPMIC; Liu Yuxuan, senior precious metals analyst at Guotai Junan Futures; Zhang Lan, senior manager at Guangzhou Futures Exchange; Zhang Wenbin, head of China market research at the World Platinum Investment Council; Shang Bin, sales director of Heraeus Precious Metals Technology (China) Co., Ltd.; and Wang Zhijun, general manager of Yixing Zhibo Environmental Equipment Co., Ltd., respectively gave wonderful presentations on topics such as the Palladium Global Science Award, the impact of macroeconomics and tariff policies on precious metals, platinum and palladium futures and options, the introduction of the delivery brand contract rule draft, the latest trends in the platinum market, the interpretation of the Heraeus 2025 Platinum Yearbook, and the dry distillation pyrolysis carbonization treatment process for precious metal catalysts. 
Key words:
Related Content
Service Hotline:+86-17695938506
E-mail：info@cpmic.org
Address: B329, Block B, Longyuan Cultural and Creative Building,
Sihui East, Chaoyang District, Beijing
Thank Jinchuan Group, Northam Platinum, Anglo American, and other image contributors for their significant support in the construction of the website.