Why is demand for jewellery higher in China than any other region?
China remains the largest consumer of platinum and palladium jewellery. Palladium jewellery was introduced to China in 2004 in the form of Pd950 (95% palladium) and in 2005 in the higher purity Pd990 (almost pure palladium) opening up a brand new market. Its lower cost compared to platinum, has made it more accessible to consumers outside major Chinese urban centres. Most Chinese manufacturers now have the technical ability to work with palladium and combined with low palladium lease rates, benefit from the greater margins from the metal. Given palladium’s strong resemblance to platinum (bright, white, tarnish-resistant), the metal is gaining more popularity in the jewellery market. As a matter of fact, as of January 2010, the UK legally recognized palladium as a precious metal and now require a statutory hallmark to be applied by an independent UK Assay Office if the palladium content weighs more than 1 gram.
