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China Imports 36 tons of platinum in Q2 alone

Exact figures on how low platinum inventories truly are in London and Zurich are unavailable. Still, supplies were further depleted by Beijing importing 36 tons of platinum in the second quarter alone – a record.

Given the platinum price rally and the unusual scarcity in the leading spot market in London, the monthly borrowing costs for platinum have risen to almost 40% on an annualised basis. Usually, this value is closer to zero…

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