Home / Metal News / Precious Metals / China Produced 230.3 mt of Gold in the First Half of 2022, Up 12.4% YoY
China Produced 230.3 mt of Gold in the First Half of 2022, Up 12.4% YoY
Aug 5, 2022 09:57CST
Source:工信部
According to data from the China Gold Association, in the first half of 2022, China produced a total of 230.3 mt of gold, a year-on-year increase of 12.4%. Among them, 174.7 mt of gold was produced using domestic raw materials, up 14.4% year-on-year; 55.6 mt of gold was produced using imported raw materials, an increase of 6.7% year-on-year. 

SHANGHAI, Aug 5 (SMM) – First, the output of gold keeps increasing. According to the data from the China Gold Association, in the first half of 2022, China produced a total of 230.3 mt of gold, a year-on-year increase of 12.4%. Among them, 174.7 mt of gold was produced using domestic raw materials, up 14.4% year-on-year; 55.6 mt of gold was produced using imported raw materials, an increase of 6.7% year-on-year. 

Second, the consumption of gold dropped YoY. The data from the China Gold Association reveals that the domestic consumption of gold stood at 476.8 mt, a year-on-year decrease of 12.8% in the first half of 2022. Among them, the consumption of gold jewellery as well as gold bars and gold coins was 320.7 mt and 112.4 mt respectively, down 8% and 25.6% respectively on the year. In addition, the consumption of gold in industrial and other fields fell 7.9% YoY to 43.7 mt.

Third, the gold prices increased slightly. Statistics show that in the first half of the year, the average spot prices of domestic gold (Au9999) was 389.6 yuan/g, a year-on-year increase of 3.4%, and the fixed prices of international spot gold settled at $1,817 per ounce, a year-on-year increase of 0.3%.

Fourth, the spot turnover rose YoY. In the first half of the year, the trading volume of all gold varieties at the Shanghai Gold Exchange totalled 19,000 mt (bilateral), up 4.5% from the previous year, and the turnover added 8.6% YoY to 7.6 trillion yuan. The trading volume of all gold varieties at the SHFE totalled 44,000 mt (bilateral), a year-on-year decrease of 12.3%, and the turnover was 16 trillion yuan (bilateral), down 10.8% from a year ago.

Market
Market

For queries, please contact Frank LIU at liuxiaolei@smm.cn

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

Related news