According to the statistics of the China Gold Association, the overall operation of China's gold industry is stable in 2021, with a year-on-year decline in output and a substantial increase in consumption.
First, output dropped compared with the same period last year. In 2021, China produced a total of 443.6 tons of gold, down 7.5% from the same period last year. Among them, the domestic supply of gold raw materials is tight, using domestic raw materials to produce 329 tons of gold, down 10% from the same period last year; using imported raw materials to produce 114.6 tons of gold, an increase of 0.4% over the same period last year.
Second, consumption increased compared with the same period last year. In 2021, national gold consumption will be 1121 tons, an increase of 36.5% over the same period last year. Of this total, consumption of gold jewelry was 711.3 tons, up 45 percent over the same period last year; consumption of gold bars and coins was 312.9 tons, up 26.9 percent over the same period last year; and consumption in industrial and other sectors was 96.8 tons, up 15.4 percent over the same period last year.
Third, the domestic gold price dropped compared with the same period last year. In 2021, the average international spot price of gold was 1798.6 US dollars per ounce, an increase of 1.6 per cent over the same period last year, while the average domestic spot price of gold was 373.7 yuan / g, down 3.7 per cent from the same period last year.
Fourth, the market turnover decreased compared with the same period last year. In 2021, the cumulative turnover of all gold varieties on the Shanghai Gold Exchange was 34800 tons (bilateral), down 41 percent from the same period last year, and the turnover was 13.08 trillion yuan, down 42 percent from the same period last year. The cumulative turnover of all gold varieties on the Shanghai Futures Exchange was 97100 tons (bilateral), down 11.3 percent from the same period last year, and the turnover was 34.19 trillion yuan, down 17.5 percent from the same period last year.
Related Reading: the Ministry of Industry and Information Technology released the operation of the non-ferrous metals industry in 2021. The output of ten non-ferrous metals increased by 5.4% compared with the same period last year.
"the Ministry of Industry and Information Technology released the performance of the aluminum industry in 2021. Aluminum prices rose 33.5% in 2021 compared with the same period last year.
