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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.
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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.
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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.
Facilitating the listing of platinum and palladium futures, and working together to create a new blueprint for the industry
Release time:
02 Aug,2024
From July 29 to August 2, 2024, Mr. Bian Jiang, vice president of the Precious Metals Working Committee of the China Resource Recycling Association, along with Ms. Zhang Lan and Mr. Ma Dengke, managers of the Commodity Business Department of Guangzhou Futures Exchange, went to Gansu, Shaanxi, and Shanxi provinces to conduct field visits to several member companies. They investigated the production of platinum and palladium products, collected on-site samples, and exchanged views with various parties on how the platinum and palladium futures market can serve the real economy, how companies can manage risks, and the healthy and stable development of the industry.
2024 From July 29 to August 2, Bian Jiang, vice chairman of the Precious Metals Working Committee of the China Resource Recycling Association, along with Zhang Lan and Ma Dengke, managers of the Commodity Business Department of Guangzhou Futures Exchange, visited Gansu, Shaanxi, and Shanxi provinces. They surveyed several member companies, investigated the production of platinum and palladium products, conducted on-site sampling, and exchanged views with various parties on how the platinum and palladium futures market can serve the real economy, how enterprises can manage risks, and how to promote the healthy and stable development of the industry.
The first stop of the survey was Jinchuan Group in Gansu Province. The team, led by Vice Chairman Bian Jiang, conducted detailed visits and surveys of Jinchuan Group Baide Precious Metals Co., Ltd. and Jinchuan Group Copper Precious Metals Co., Ltd., and conducted on-site sampling of platinum and palladium products. Located in Jinchang City, known as "China's Nickel Capital," Baidejin and Tonggui companies leverage their advantageous location, resources, and industrial policy support to have abundant supply chain raw materials and technical reserves. In the secondary resource recycling market for precious metals, they have established a mature recycling network and marketing system, possessing stable customer resources and a considerable market share.
7 On July 29, the Precious Metals Working Committee and Guangzhou Futures Exchange conducted a survey and exchange at Jinchuan Baidejin and Jinchuan Tonggui.
During the visit to the factory and production workshops, Vice Chairman Bian Jiang learned in detail about the company's advanced technologies and management experience in precious metal extraction, refining, and deep processing. He highly praised Jinchuan Group's efforts in promoting technological innovation and achieving sustainable development in the industry.
Vice Chairman Bian Jiang learned in detail about the company's product line.
The association and Guangzhou Futures Exchange conducted on-site sampling.
The survey team then went to Shaanxi Province and visited Xi'an Kaili New Materials Co., Ltd. Kaili is a leading domestic supplier of precious metal catalysts in the field of fine chemicals. Its self-developed precious metal catalyst products have achieved import substitution through quality and price advantages.
Here, the company's leaders detailed the company's development history, business layout, profit model, and core competitiveness. Vice Chairman Bian Jiang inquired about the company's latest progress in new material research and development, especially in the application of precious metal materials. They also exchanged views on cooperation at the CPMIC annual meeting and coordination of industrial policies, reaching a preliminary consensus. Both sides discussed how the association and the company could strengthen upstream and downstream cooperation in the industrial chain and jointly enhance the international competitiveness of China's precious metal materials.
Xi'an Kaili New Materials Co., Ltd. showroom
8 On August 1, the survey team arrived at CNOOC Taiyuan Precious Metals Co., Ltd. Liu Xin, deputy general manager of CNOOC Precious Metals, and Liu Jinshui, industrial shaping manager, comprehensively introduced the company's development status, business model, and the main directions of current technological breakthroughs. It is reported that CNOOC Precious Metals' main "Huajin" brand platinum mesh catalyst accounts for 45% of the market share and 75% of market customers. In the first half of this year, the company performed strongly, with increased platinum mesh catalyst residual mesh recycling capacity and higher customer purchase intention. CNOOC Precious Metals is also diversifying its business and expanding its business boundaries while connecting the upstream and downstream industrial chains, developing new businesses such as precious metal investment and cultural and creative industries and electrochemical titanium anodes. This reflects that, under the current intensified reshuffling of the precious metal catalyst industry, the competitiveness of leading recycled precious metal companies is not decreasing but increasing.
Vice Chairman Bian Jiang and the Guangzhou Futures Exchange managers visited the company's laboratory and production line, learning about CNOOC's achievements in precious metal secondary recycling, purification, and high-value-added product development. They also visited the vault and conducted on-site sampling of platinum ingots and sponge palladium.
On-site sampling at CNOOC Taiyuan Precious Metals Co., Ltd.
The research and development and listing of platinum and palladium futures are of great significance to the orderly and healthy development of the precious metals industry. Futures, as a financial tool, its price discovery mechanism enables enterprises to adjust production plans, optimize resource allocation, and improve production efficiency in response to changes in market supply and demand. The futures market is also expected to become a "safe haven" for the real economy to diversify and avoid risks.
The Precious Metals Working Committee and Guangzhou Futures Exchange jointly conducted a preliminary industry quality survey and sampling, establishing a delivery warehouse brand and identifying "whitelisted" enterprises. This action marks a trend of deeper integration between the precious metals industry and the financial market. The listing of platinum and palladium futures will help improve public awareness of platinum group precious metals, often referred to as the "industrial vitamins," and will be more beneficial to China's establishment of strategic reserves of platinum group precious metals. It has taken an important step in exploring precious metal price discovery mechanisms, stimulating market vitality, and enhancing market transparency.
This northwestern sampling and research trip was not only an in-depth exploration of the current industry situation but also a joint outlook on future development directions. Bian Jiang, vice chairman of the China Resource Recycling Association's Precious Metals Working Committee, said that the association will continue to play its role as a bridge and link, making positive efforts to promote close cooperation between upstream and downstream enterprises in the precious metals industry chain. At the same time, the participation of Guangzhou Futures Exchange has brought new opportunities for financial innovation and market development in the precious metals industry. Both sides will work together to promote the application of technological innovation and engage in dialogue with industry enterprises, contributing to the green transformation and high-quality development of China's precious metals industry.
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