The Chinese market has fuelled global demand for platinum jewellery in the first quarter of 2017, data from World Platinum Investment Council (WPIC) showed.
According to WPIC’s latest Platinum Quarterly report, global platinum jewellery demand recorded a 3 percent year-on-year increase, thanks to robust retail sales in China during the period in review.
Global jewellery demand, however, is predicted to drop 1 percent in 2017 compared to 2016, with anticipated declines in China and Japan outweighing growth in India and other regions.
Global platinum supply is likewise expected to be 2 percent lower from last year. Mine supply also hit a record year-on-year low of 6.3 percent since the third quarter of 2014, according to WPIC.