The Chinese Platinum Market

Transcription

1 The Chinese Platinum Market Philip Klapwijk Chairman, Ltd. LBMA Annual Conference Edinburgh, 2 nd November 2009 The Chinese Platinum Market Presentation Outline Supply Demand Autocatalyst Jewellery Other Conclusion Platinum & Palladium Survey

2 Kilogrammes Chinese Platinum Supply Official Mainland Imports Imports via Hong Kong Jewellery Scrap Main Sources of Platinum Supply to China Hong Kong Imports China Mainland Imports Scrap Source: Ltd. (Note: Imports are Gross Quantities; 2009 data are forecasts.) Platinum & Palladium Survey

3 Kilogrammes Shanghai Gold Exchange Turnover and Price Platinum Price (Rmb/g) SGE Monthly Platinum Turnover Source: Ltd.; Shanghai Gold Exchange Chinese Platinum Demand Autocatalyst JewelIery Other Platinum & Palladium Survey

4 Millions of Vehicles and Tonnes China s Forecast Share of Global Precious Metals Demand in 2009 Source: Ltd. Chinese Platinum Autocatalyst Consumption and Passenger Vehicle Sales Passenger Vehicle Sales Pt Autocatalyst Consumption Source: Ltd.; CAAM (2009 data are forecasts.) Platinum & Palladium Survey

5 Value in Millions of Dollars Chinese Autocatalyst Exports + Imports Imports Exports Source: Ltd. Chinese Platinum Jewellery Demand China s Share of Global Pt Jewellery Demand Source: Ltd. (2009 data are forecast) Platinum & Palladium Survey

6 Rmb/g Platinum, Palladium and Gold Prices in China Source: ; Thomson Reuters EcoWin Other Chinese Platinum Demand Petroleum Catalysts Other Industrial Investment / Hoarding Exports Platinum & Palladium Survey

7 Conclusion China s call on the international platinum market will grow as its demand rises; imports will have to increase further. Domestic supply will rise as the first generation of catalyst equipped vehicles is scrapped and as the pool of platinum jewellery grows further but this will still fall far short of fabricators requirements. China s dominance of global platinum jewellery demand will become further entrenched. China within a few years will become the world s single biggest source of PGM autocatalyst demand in 2009 it will already overtake the United States as the planet s largest car market. Thank you for your attention! Website: Contact: philip.klapwijk@gfms.co.uk Platinum & Palladium Survey

8 Disclaimer The information and opinions contained in this presentation have been obtained from sources believed to be reliable, but no representation or warranty, express or implied, is made that such information is accurate or complete and it should not be relied upon as such. This presentation does not purport to make any recommendation or provide investment advice to the effect that any precious metals related transaction is appropriate for all investment objectives, financial situations or particular needs. Prior to making any investment decisions investors should seek advice from their advisers on whether any part of this presentation is appropriate to their specific circumstances. This presentation is not, and should not be construed as, an offer or solicitation to buy or sell precious metals or any precious metals related products. Expressions of opinion are those of Ltd only and are subject to change without notice. Copyright All rights reserved. This report serves as a single user licence. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means without the prior written permission of the copyright owner. This data is released for general informational purposes only, and is not for use in documents with an explicit commercial purpose such as Initial Public Offerings (IPOs), offers to conduct business, background briefings on the precious metals markets associated with marketing a particular business or business offering, or similar such documents without prior written agreement of. retains all intellectual and commercial property rights associated with the data contained herein and any unauthorised use of this data is a violation of applicable international laws and agreements. can grant permission for the re-publication of our material in both print and electronic format subject to a copyright fee. If you would like permission to reproduce our material in any form please contact directly in writing. By continuing to read this document, you agree to the above terms and conditions in their entirety. Platinum & Palladium Survey