Jewellery 'becoming huge' in China

First published: 21-12-2009

It is not only the UK market that is mad for jewellery, with one particularly huge market - if not the largest - proving to be home to a boom in demand for such accessories.

According to a new report from Johnson Matthey, the demand for platinum from China has been huge in the last 12 months, being used in all manner of applications from bracelets to watches.

In the interim report from the metals specialist which has recently come to light, the price of the material has made it a top purchase for the Far Eastern nation, registering a record leap of 54.5 tonnes of platinum in 2009.

Johnson Matthey attributed the trend to strong consumer purchasing and "hefty restocking".

However, in Europe, the demand for platinum dropped by 500kg to 5.7 tonnes per year, though this has also been countered by Japan, which has upped its purchasing of the metal from 7.9 tonnes to 9.7 tonnes - again being attributed to jewellery sales.

Johnson Matthey, founded in 1817, specialises in the core skills of catalysis, precious metals, fine chemicals and process technology.