Exploring the importance of purity, provenance and perception in the platinum market.
Noble and pure, platinum is renowned for its properties and poeticism. Its strength and rarity have grown to symbolise the endurance and similar rarity of a relationship that seems set to stand the test of time. Fittingly, it has become a featured choice for jewellery.
South Africa remains the leading supplier of platinum, producing 72% of the world’s supply in 2018. Though platinum jewellery production fell last year, the demand remains high across India, Japan and China, the latter representing well over half of annual demand. Growth in the United States has also prompted an increase of production, with platinum currently the leading choice for engagement rings.
Trending alongside the metal itself is jewellery prove-nance. The global market is increasingly attracted to the ethical and practical purity of an original, responsible material source. Jewellers and wholesalers alike will soon be regulated to ensure that this is the case with all jewellery manufactured and sold. This means sourcing from refiners and suppliers that have strict systems in place with regards to governance and ethical business practices.
This is attractive news for South African jewellery manufacturing! Though our market is small, and primarily limited to bespoke production, manufacturers have considerable expertise. They have the added advantage of proof of source of material, including platinum, gold, palladium and diamonds.
The bespoke international consumer will pay a premium for responsible production and sustainable practice.
In 2018, MetCon and Anglo American Platinum introduced The Platinum Programme, an offering that provides the South African jeweller favourable payment terms on the purchase of platinum. Our hope is that the programme encourages creativity, enabling an increase in production locally, in order to grow and evolve African wealth.
For more information please contact MetCon.
Tel: +27 12 000 4440