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Physical delivery demand for platinum in China is rising, according to comments by Robert Friedland.
A major Chinese refiner has reported heightened interest in receiving physical metal through the new platinum contract on the Guangzhou Futures Exchange. Both speculators and industrial users are showing a preference for settling in physical platinum instead of closing their short futures positions, aiming to capture the prevailing premium.
This trend signals increased market activity and appetite for platinum in China, which is drawing metal away from global markets.
Friedland has previously highlighted challenges in copper supply, calling for innovation and faster mine development. He has also commented on more than $700 billion in planned 2026 U.S. hyperscaler capital spending, which may impact commodities like copper, in earlier remarks on tech sector demand. The latest observations on platinum come as commodity supply and industrial demand remain in focus.