Uncovering the key features of platinum metabolism in China during 2001-2022: A dynamic material flow analysis

Platinum is a critical mineral resource and has been called the "vitamin" of the technology industry as it is widely utilized in diverse fields such as automobiles, petroleum, chemicals, medicine, jewelry, and electronics. The demand for platinum is increasing, but its reserve is limited, especially in China, a major platinum user in the world. This study aims to track the platinum cycle in China for the period of 2001-2022 by employing dynamic material flow analysis so that the key features of platinum metabolism in China can be identified. Our results show that the total production of domestic platinum mining accounted for only 1.27% of the national platinum supply. China had to import platinum resource to meet with its increasing demand. The jewelry sector contributed the largest platinum consumption due to the preference of the Chinese consumers. There are two recycling routes for all the retired platinum-containing products, including both closed-loop and open-loop routes. Also, the total illegal imported platinum scraps reached 131.27 tons, accounting for 47.57% of the total open-loop recycled platinum. China's platinum in-use stocks increased from 44.23 tons in 2001 to 824.49 tons in 2022. As a result, the end-of-life platinum scraps increased from 0 tons in 2001 to 65.83 tons in 2022. In addition, China primarily imported platinum semi-finished products to meet its domestic demand, but mainly exported platinum scraps and finished products to other countries. Based on these research findings, policy recommendations are proposed by considering the Chinese realities, covering political, technological, and industrial cooperation dimensions. The results of this study provide valuable insights to those decision makers so that they can prepare more effective platinum resource policies.