CHINA June 25 2014 6:12 PM
SHANGHAI (Scrap Register): China’s imports of silver were up but those of platinum group metals were down during May, said HSBC.
Chinese data at the start of the week showed China’s net silver imports rose to 47 metric tons in May 2014, up 33% year-on-year. On a gross basis, China imported around 196 tons and exported 148 tons of silver.
China’s net imports of platinum fell to 5.1 tons last month, down 39% year-on-year, while net imports of palladium fell to 1.5 tons, down 18% from a year ago. China’s platinum imports from South Africa, as a percentage of its total imports, fell to 48% for May from 65% for March and 52% for April.
HSBC attributes this drop partially to the mining strike in South Africa. The walkout by workers at three major producers began on Jan. 23 and appears to be ending this week.