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Analysis of Platinum Demand in Shenzhen and the Supply and Demand of Platinum, Palladium, and Gold in China
Release time:
13 May,2025
On May 8, 2025, a seminar titled "Platinum and Palladium Market Insights: Futures Empowering a New Chapter—In-depth Analysis of the Precious Metals Market and Futures Applications" was successfully held in Shenzhen. The seminar was jointly hosted by the China Precious Metals Industry Committee (CPMIC) and Guotai Junan Futures Shenzhen Branch.
On May 8, 2025, a seminar titled "Platinum and Palladium Market Insights: Futures Empowering a New Chapter—In-depth Analysis of the Precious Metals Market and Futures Applications" was successfully held in Shenzhen. The seminar was jointly hosted by the China Precious Metals Industry Committee (CPMIC) and Guotai Junan Futures Shenzhen Branch.
This seminar brought together experts from the precious metals industry, senior research analysts from the futures field, and corporate representatives. It focused on macroeconomic conditions, the supply and demand of the platinum and palladium market, and the application of futures tools, aiming to promote deep integration between industry and finance. The seminar's agenda included keynote speeches and round-table discussions, with a focus on knowledge sharing and practical experience exchange.
Bian Jiang, the Executive CEO of CPMIC, attended the seminar and delivered a keynote speech on "Platinum and Palladium Supply and Demand Market Analysis." He analyzed the core elements of the precious metals industry for attendees, helping them grasp market opportunities through supply and demand data. According to comprehensive and scientific statistics from CPMIC, China's platinum supply in 2024 was 119 tons, and consumption was 66.1 tons; palladium supply was 52.86 tons (including imports and recycling), with a significant 65% increase in recycling, and the consumption decreased to 58.9 tons. Detailed data will be released at the 2025 CPMIC Working Conference in Beijing in mid-June.
Wang Xiao, Research Director of Guotai Junan Futures, presented a report on the impact of the macroeconomic situation and trade conflicts on precious metals in 2025. Senior Analyst Liu Yuxuan conducted an in-depth analysis and judgment of the market trends of gold, platinum, and palladium under the current economic situation, and explained the effective application of futures in the precious metals industry.
During the interactive session at the seminar, attendees engaged in lively discussions on current metal market price fluctuations and risk management issues. Some enterprises introduced their hedging needs and pain points in hedging business under the current market conditions, thus informing the futures company's subsequent efforts to improve its risk management service capabilities and the breadth and depth of its services. The round-table discussion also comprehensively analyzed the impact of tariff changes on gold prices and the phenomenon of increased platinum demand in Shenzhen. It was unanimously agreed that this was due to short-term jewelry demand and investment phenomena leading to demand exceeding supply. From the perspective of national supply and demand, industrial application demand has not increased. In 2025, the main driver of platinum consumption will rely on jewelry and investment, but supply still exceeds demand. This requires breakthroughs in innovation in new materials and policy-driven increases in platinum and palladium consumption in the automotive sector.
After the seminar, CPMIC and Guotai Junan Futures visited CPMIC’s member companies in Shenzhen, including Shenzhen Zhonghenglong Industrial Co., Ltd., Shenzhen Yuoxin Precious Metals Co., Ltd., Jiangxi Junxin Shenzhen Branch, and the headquarter of Rongtong Gold, and also conducted on-site investigations into the main problems encountered in precious metal recycling, testing, taxation, jewelry processing, and the development of the entire industrial chain.
Shenzhen Zhonghenglong Industrial Co., Ltd.
Shenzhen Yuoxin Precious Metals Co., Ltd.
Shenzhen Jinzhenglong Technology Co., Ltd.
This visit highlighted the upgrading trend of China's precious metals industry chain: intelligent recycling processes, precise testing technologies, and high-end application scenarios. Bian Jiang pointed out that Zhonghenglong's accumulated jewelry processing technology and testing standard system, Yuoxin's digital and intelligent recycling system, Junxin Shenzhen's integration of old and new systems, and Jinzhenglong's national layout all provide replicable transformation models for the industry. Gan Wuxiong, Zou Shihui, Gan Weirong, Zou Jiahao (management staff from Shenzhen Zhonghenglong), Cai Haitao (Chairman of Yuoxin), and Jiang Chao (boss of Rongtong Gold) participated in the investigation and discussions.
Futures provide the industry with financial tools such as futures hedging and options hedging, offering enterprises solutions for price locking and inventory hedging, effectively reducing the impact of market uncertainty. In the future, CPMIC will continue to cooperate with leading financial service providers to conduct training on the application of financial tools, accelerating the value release of platinum and palladium resources in jewelry, automotive industry, and new materials, enhancing China's voice in the global platinum and palladium pricing system, and injecting new impetus into the sustainable development of the industry.
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