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China’s platinum futures exchange debut seen as major boost for South Africa's PGMs
Physically settled platinum and palladium futures contracts and futures options will commence trading on November 27 on China’s Guangzhou Futures Exchange, which is cracking a world first by taking delivery of sponge, an advance that is highly attractive to industrial and automotive end-users. Up to now, exchanges have only been prepared to take delivery of platinum ingot and bar. Despite being the world’s largest consumer of platinum group metals (PGMs), China has typically been a PGMs price taker, with only its varying levels of imports impacting on international price discovery. Now, the listing of platinum ...