Global Gold Recycling declines 3% y/y in Q1 2015: WGC

Published: May 15, 2015 08:54

Save

Global gold supply remained virtually unchanged at 1,089 tons as a 2% rise in Q1 2015 mine production to 729 tons was balanced by a 3% fall in recycling to 355 tons.

UNITED STATES May 14 2015 5:33 PM

NEW YORK (Scrap Register): Global gold supply remained virtually unchanged at 1,089 tons as a 2% rise in Q1 2015 mine production to 729 tons was balanced by a 3% fall in recycling to 355 tons, compared with the same quarter last year, as per the latest figures from the London based World Gold Council.

However, the first three months of this year saw stable gold demand, according to the latest Gold Demands Trends report from the World Gold Council. Total demand for Q1 2015 was 1,079 tons, down just 1% on the same period last year.

Conditions differed from market to market, but at an aggregate level, these differences broadly balanced each other out.

Once again, consumers in Eastern countries dominated the market with China and India alone accounting for 54% of total global consumer demand in the quarter.

Total investment demand was up 4% to 279t, compared to 268t in the same quarter the previous year. Demand for bars and coins fell 10% from the previous year to 253t as retail investors, notably in India, diverted their money into equities in the wake of the country’s strong stock market performance. However ETFs saw their first inflows since Q4 2012, albeit at the modest rate of 26t.

gold recycling WGC

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

9 mins ago

China copper social inventory edges up MoM, regional inventory trends diverge [SMM weekly data]

9 mins ago

31 mins ago

Available supply declines; Shanghai spot copper premiums dip before rebounding during the day [SMM SHFE copper spot]

[SMM Shanghai Spot Copper] Looking ahead to tomorrow, SMM recorded social inventory in Shanghai at 58,600 mt, down 2,500 mt WoW from Monday this week, while social inventory in Jiangsu was recorded at 20,800 mt, up 2,300 mt WoW from Monday this week, with overall social inventory edging lower. From a supply-demand fundamental perspective, a large volume of imported copper is expected to arrive later, which may exert phased pressure on spot premiums. Downstream enterprises have low acceptance of the current high premiums, but due to tight supply of mainstream circulating cargoes in Shanghai, SHFE copper spot premiums dipped first and then rose during the day. In addition, according to SMM, some downstream processing enterprises have started stockpiling for the Mid-Autumn Festival and National Day holidays, with purchase willingness edging up slightly. SHFE copper spot premiums are expected to remain at current high levels tomorrow, with a possibility of edging up slightly.

31 mins ago

47 mins ago

Shandong spot copper cathode market

Copper prices trended lower this week, spurring improved downstream demand. Tight spot supply further bolstered sellers’ willingness to hold firm on prices. After contract rollover, Shandong spot copper cathode returned to a premium structure. As of Thursday, the average spot premium/discount was quoted at +430 RMB per tonne.

47 mins ago