EADaily: Russia’s Platinum Being Actively Purchased by China

During the period from January to February 2023, Russian suppliers shipped 279 times more platinum to China than a year earlier. About this today, March 23, reports RBC.

The total volume of product deliveries to the Chinese market in the winter months amounted to 1.67 tons. The revenue of Russian suppliers increased 265 times – from $200,000 to $53 million.

Russia also increased the supply of palladium to China (8.5 times to 2.72 tons and $152 million). Exports of rhodium, a platinum group metal, increased 7 times to a total of 190 kg. Rhodium suppliers made a profit of $76 million.

Most of the shipments in the winter of 2023 were provided by Norilsk Nickel, which is the largest producer of platinum group metals in Russia. And the current exchange prices for platinum and palladium can be seen in the latest report published by EADaily.

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