The period from January through February 2023 saw a dramatic surge in Russia’s platinum exports to China. Data from the General Administration of Customs of China show a vast jump in physical shipments, rising more than 279 times compared with the same interval in the prior year. The volume climbed from 5.99 kilograms to about 1.67 metric tons, while the value of these shipments surged from roughly 0.2 million dollars to an estimated 53 million dollars. This shift underscores a substantial reallocation of metal flows between the two economies during early 2023. customs data attributed by industry reports.
Similar momentum characterized palladium deliveries, with shipments increasing significantly from 0.32 tons to 2.72 tons. The corresponding monetary value rose from approximately 27 million dollars to about 152 million dollars. The rapid expansion in palladium trade mirrors broader patterns of heightened demand and strategic stock movements in metals used for automotive catalysts and related technologies. customs data attributed by industry reports.
Rhodium, the fourth member of the platinum group, also experienced a marked rise in exports from Russia to China. Initial figures of 26.2 kilograms climbed to 0.19 tons, accompanied by an increase in monetary value from 13 million dollars to roughly 76 million dollars. The data reflect a sustained and sizable interest in rare metals within Chinese markets during the period. customs data attributed by industry reports.
In the spring of 2022, the Federal Customs Service of the Russian Federation initiated a pause on foreign trade statistics publication. On March 13 of that year, the service announced a partial resumption of data release. The agency explained that going forward, import and export values by commodity group would be published on an accrual basis each month, 40 days after the end of the reporting period, with monthly updates to reflect revisions from previous months in the current year. This approach was intended to provide more timely and structured insights into trade patterns while balancing reporting capabilities with the need for accuracy. Customs Service announcements and subsequent industry summaries.
Where the trade data demonstrate the interplay between Russia and China, they also highlight how shifts in customs reporting practices can influence the interpretation of trade trends. Analysts track not only the raw volumes and values but also the timing and method of publication, which can affect assessments of supply chain resilience and market sentiment for platinum group metals. Observers note that the stronger Chinese demand signals steady interest in palladium and platinum as essential inputs for high-technology manufacturing, jewelry, and investment flows, while rhodium remains a volatile but strategically significant component within the PGMs. analyses and official data summaries.