In January-February 2023, China significantly increased imports of Russian-made platinum group metals.
Russia in January and February 2023 increased the supply of platinum to China 279 times compared to the same period in 2022 – up to 1.67 tons. This was reported by the Russian media in connection with the data of the General Administration of Customs of the People’s Republic of China on Thursday, March 23.
At the same time, in financial terms, the supply increased 265 times (from $0.2 million to $53 million).
In addition, supplies of Russian palladium to the Chinese market increased 8.5 times, to 2.72 tons, in monetary terms, by 5.6 times (from $27 million to $152 million). Deliveries of rhodium, a platinum group metal, increased seven times (from 26.2 kg to 0.19 tons), in financial terms – six times (from $13 million to $76 million).
At the same time, according to the results of 2022, the supply of Russian platinum to China decreased by 33%, to 8.99 tons (in monetary terms – almost twice, to $ 280.1 million), palladium and rhodium – increased by 43 %, up to 9.03 tons (in money – plus 23.6%, up to $583.8 million), and 67%, up to 0.52 tons (plus 13%, up to $238.5 million), respectively.
It was previously reported that China’s exports and imports to Russia in January-February this year grew at a “double-digit pace” compared to the previous one.
It was also reported that the Chinese Foreign Ministry explained the “friendship” with Russia.
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Source: korrespondent
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