https://newsletter.mw.creamermedia.com
Gold|Platinum
Gold|Platinum
gold|platinum

Russian precious metals sales to China hit $1bn

21st July 2025

By: Bloomberg

  

Font size: - +

Russian precious metals exports to China almost doubled in the first half of the year, as record gold prices boost revenue.

Chinese imports of Russian precious metal ores and concentrates, including gold and silver, jumped 80% to $1-billion from the same period a year earlier, according to data from Trade Data Monitor, which sources information from China’s customs office. Bullion prices have climbed about 28% this year, boosted by heightened geopolitical risks and trade tensions, alongside buying by central banks and exchange-traded funds.

Russia, the world’s second-largest gold producer with annual output of more than 300 tons, has been shut out of Western trading hubs like London and New York since its full-scale invasion of Ukraine in 2022. The Bank of Russia, formerly the world’s largest central bank gold buyer, has not resumed large-scale purchases, leaving China as one of the country’s few remaining major markets.

Gold miners in Russia have also been buoyed by growing domestic retail demand, which reached a record high in 2024 as Russians turned to precious metals to safeguard their savings.

Russia’s MMC Norilsk Nickel, one of the world’s top producers of palladium and platinum, has ramped up exports to China this year. Prices for the two metals jumped 38% and 59%, respectively, this year.

Edited by Bloomberg

Comments

Showroom

AQS Liquid Transfer
AQS Liquid Transfer

AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa

VISIT SHOWROOM 
Schauenburg SmartMine IoT
Schauenburg SmartMine IoT

SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 25 July 2025
Magazine round up | 25 July 2025
25th July 2025

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.154 0.228s - 126pq - 2rq
Subscribe Now