China May Silver imports hit best since Dec 2010

UNITED STATES June 26 2017 5:11 PM
 
SHANGHAI (Scrap Register): Chinese trade data has showed that the most monthly silver imports in May since 2010, while platinum imports were the strongest in more than a year, according to Commerzbank.

Analysts at Commerzbank cited data from customs authorities showing that China imported 407 tons of silver in May. This was nearly twice as much as in last May, as well as the largest quantity since December 2010.

Silver imports in the first five months of the year were thus a third higher than in the same period last year.

Platinum imports hit a 16-month high of 9.5 tons. By contrast, palladium imports were subdued at 1.3 tons, Commerzbank added. 

“We are therefore finding palladium’s significant outperformance of platinum increasingly difficult to understand,” Commerzbank noted.