Recently published hallmarking statistics for the final quarter of 2004 and the full year show that, although platinum demand in the UK is still on a growth curve, foreign imports are becoming more prevalent.

In the fourth quarter of 2004 the weight of pieces hallmarked by the Assay Offices of Great Britain was up 13% and the number of pieces up 11% compared to the same period in 2003.

For the full year weight was up 13% to 2,895 Kgs (93,000 oz troy) and 15% in by pieces to 363,000.

The Assay Offices reported that, by weight, 24% was imported in 2004 compared to 21% the previous year. In the final quarter, however, this was reported as being as high as 34% indicating a stronger trend to offshore manufacture.

Nevertheless the market continues to build on the back of bridal demand where platinum engagement and wedding rings have become the metal of preference for most couples. This situation is expected to be further enhanced as Platinum Guild International begin a bridal press focussed advertising campaign in the Spring, their first consumer promotion in the UK since the early 1980s.