China Jan gold imports from Hong Kong slide 40% on month to 32 mt; 2-year low

Chemical News: China Jan gold imports from Hong Kong slide 40% on month to 32 mt; 2-year low

https://www.chemnet.com Mar 01,2017 Platts
Chinese gold imports from Hong Kong totaled 32 mt in January, down 40% from December, data released by the Hong Kong Customs and Statistics showed Tuesday.

The figure is down marginally from 33 mt reported in January 2016.

Imports to the Chinese mainland totaled 771 mt in 2016, down from 861 mt in 2015.

When combined with imports from Switzerland to the Chinese mainland, using the most recent Swiss Federal Customs data, total gold imports into China for 2016 totaled 1,213 mt, up from 1,163 mt in 2015.

Combined imports for January stand at 50 mt, down 35% year on year.

Based on the London Bullion Market Association settlement price, gold averaged $1,192/oz in January, up from $1,151/oz in December.

The LBMA Gold price settled at $1,251.90/oz Tuesday morning, down $6.30 on the day.

China is the world's largest consumer of physical gold, ahead of India in second place. Together they account for nearly half of global consumption.
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