The report to the 20th National Congress of the Communist Party of China proposes to promote the development of strategic emerging industries, and build new growth engines such as next-generation information technology, artificial intelligence, biotechnology, new energy, new materials, high-end equipment, and environmental protection. As a precious metal that provides efficient solutions for the new energy industry, the development of the platinum market is being integrated into the national development strategy. At the "2023 Platinum Market New Media Training Course" held on March 20, the Futures Daily reporter learned that platinum, as a member of the platinum group precious metals family, is a key metal in the development of hydrogen energy industry, and plays an important role in promoting China's goal of "dual carbon".
Tao Minghao, director of the Beijing Gold Economic Development Research Center, said that with the global environmental protection requirements, hydrogen energy in renewable energy is increasingly becoming one of the important energy sources, from the national level, we have to pay more attention to platinum group metal resources and the platinum market. "Only by integrating the construction of the platinum market into the broader context of national development can we ensure the rapid development of the platinum market in the next five to 10 years or even longer." Tao Minghao said, referring to the development roadmap of China's gold market in the past 20 years, the construction and development of China's platinum market is not wishful thinking, self-achievement, need to "top-level design" -- the national technology and industry development strategy and regulatory environment consideration, Bottom line thinking -- a combination of factors such as the needs of real economy companies and the investment needs of ordinary people.
According to Deng Weibin, head of the Asia Pacific Region of the World Platinum Investment Association, platinum was mainly used for jewelry in the early days. With the development of science and technology, the physical and chemical properties of platinum have been further explored and applied to all aspects of human society, known as the "vitamin of industry".
It is worth noting that in March 2022, the National Development and Reform Commission and the National Energy Administration formulated and issued the Medium - and Long-Term Plan for the Development of the Hydrogen Energy Industry (2021-2035), which identified hydrogen energy as a strategic emerging industry and a key development direction for future industries. The World Platinum Investment Association expects platinum demand from the hydrogen economy to grow by 24% in 2023 for stationary fuel cells and 129% for proton exchange membrane electrolytic cells.
Li Qinling, strategic research manager at the Shanghai Center for Promoting the Commercialization of Fuel Cell Vehicles, said hydrogen energy is an important carrier for energy-intensive green and low-carbon transition. At present, the traditional fuel vehicle still occupies the dominant position of vehicle ownership. From 2012 to 2021, the carbon emissions from the fuel cycle of our vehicle fleet increased by 400 million tons of CO2 equivalent from 550 million tons to 950 million tons of CO2 equivalent. To alleviate this problem, we need to vigorously promote new energy vehicles fueled by clean energy. In the process of utilization and development of hydrogen energy, platinum group metals have been paid much attention. Platinum is the only clean energy efficient solution across the four fields of hydrogen production, hydrogen storage, hydrogen transport and hydrogen use, which has a strategic significance that cannot be ignored.
"Platinum-group metals are becoming more widespread and important due to their stable chemical and physical properties." Ni Huifeng, deputy general manager of precious metals market development of Anglo American in China, analyzed that platinum group metals have broad application prospects in many new energy and new material industries, including jewelry accessories, agriculture, petrochemical, environmental protection, electronics, medicine, energy storage, hydrogen energy, new materials and other fields, and will continue to "evolve" their application scenarios in the future.
Zhang Wenbin, head of China market research at the World Platinum Investment Association, believes that the global platinum supply and demand structure will change in 2023, from the market surplus in the past few years to a shortage of nearly 17 tons. Domestically, although China is the world's largest consumer of platinum, the metal has a limited resource endowment and is highly dependent on imports.
He believes that along with industrial upgrading, scientific and technological innovation and the development of hydrogen energy field, platinum group metals, especially platinum, have important strategic significance for China, which should be improved and supported from various aspects such as financial trading market, taxation and recycling policies.
