Jinlong Copper Co., a gold producer in East China’s Anhui province, saw the customs clearance of 100-kg United States-bound gold at Shanghai Pudong International Airport on August 5.
This was the province’s first export order for gold.
As the largest gold-producing company in the province, Jinlong Copper has ranked 1st in Anhui by output for 11 consecutive years.
International gold prices have been rising due to the complicated international situation and the COVID-19 pandemic. The price of gold in the international market was almost 15,000 yuan more than the domestic gold price in early August. Against this backdrop, the company adjusted its sales strategy, shifting its focus from Chinese market to overseas markets.
The company’s second export order is now under negotiation.
The company imports more than 1 million tonnes of copper ore concentrates on a yearly basis. Among them are 3 tonnes of associated gold ore, which is included in the pricing system of international trading of copper concentrates.