China Palladium Price Today in USD
Live Chinese palladium price in dollars from the Guangzhou Futures Exchange (GFEX), with the China premium vs COMEX.
Palladium Price in Yuan: China vs Western
China benchmark and Western spot in Chinese yuan per gram (¥/g)
Where China's palladium price comes from
China gained its first domestic palladium benchmark in November 2025, when the Guangzhou Futures Exchange (GFEX) launched palladium futures. Before that, local prices were quoted off imported metal and Western futures. GFEX quotes palladium in Chinese Yuan per gram, and that settlement is now the reference Chinese automakers, refiners, and traders use. When you search for the "China palladium price," the GFEX contract is the number you are looking for.
Why China matters for palladium
Palladium is overwhelmingly an autocatalyst metal, it scrubs emissions from gasoline engines, and China runs one of the world's largest vehicle fleets. Yet China produces almost no palladium: about 40% of global supply comes from Russia and most of the rest from South Africa. That import dependence, layered on top of sanctions-related supply uncertainty and the EV transition's long-run drag on gasoline-engine demand, makes the China palladium price unusually sensitive to both supply shocks and auto-production data.
Converting China's palladium price into US dollars
GFEX quotes palladium in CNY per gram. To compare with the COMEX price (quoted in USD per troy ounce), one currency conversion and one unit conversion are needed:
Price (USD/oz) = Price (CNY/g) × 31.1035 ÷ (USD/CNY rate)
31.1035 is the number of grams in a troy ounce. The live price card above handles this automatically using the real-time USD/CNY rate and the latest GFEX settlement for the most-active contract.
Reading the China palladium premium
The gap between the GFEX price and COMEX is the China palladium premium, a real-time read on domestic demand versus imported supply. Palladium is even thinner and more volatile than platinum, so the premium can move sharply:
- Premium widening: Chinese buyers paying up for metal , often tied to strong gasoline-vehicle output or a supply scare.
- Premium near zero: imports have matched demand, or the two markets are in step.
- Discount (negative premium): softer domestic demand , sometimes an early read on slowing auto production or faster EV adoption.
For the full arbitrage-focused view, historical premium ranges and the GFEX-vs-COMEX spread methodology, see our GFEX palladium premium page.
GFEX vs COMEX palladium at a glance
| Feature | GFEX (Guangzhou) | COMEX (New York) |
|---|---|---|
| Contract size | 1,000 g (~32.15 oz) | 100 troy oz |
| Currency | Chinese Yuan (CNY) | US Dollar (USD) |
| Trading hours | 9:00-11:30, 13:30-15:00 BJT | Nearly 24h (Sun-Fri) |
| Launched | November 2025 | Established market |
Frequently Asked Questions
- How is the China palladium price set?
- China's domestic palladium price is discovered on the Guangzhou Futures Exchange (GFEX), which launched palladium futures alongside platinum in November 2025. GFEX quotes palladium in Chinese Yuan per gram (CNY/g) during Beijing trading hours. We convert that to US dollars per troy ounce using the live USD/CNY rate so it can be compared directly with the COMEX palladium price.
- Why does palladium in China trade at a different price than the US?
- China imports nearly all of its palladium, about 40% of global supply comes from Russia and another large share from South Africa. Import logistics, sanctions-related supply uncertainty, autocatalyst demand, and a non-convertible Yuan keep the GFEX price from tracking COMEX exactly, producing a China premium or discount.
- What's the difference between the China palladium price and the GFEX palladium price?
- They are effectively the same. 'China palladium price' is the general phrasing; the GFEX contract is the venue that publishes China's domestic palladium price. As China's first liquid palladium futures market, GFEX settlement is the reference for the China palladium price.
- What drives China's palladium demand?
- Palladium is overwhelmingly an autocatalyst metal, used in gasoline-engine catalytic converters. China's large gasoline vehicle fleet makes it a major consumer. As EV adoption grows, long-run palladium demand faces pressure, which can make the China palladium premium especially sensitive to auto-production data.
- Can I buy palladium at the China price from outside China?
- Not directly, GFEX access is restricted to qualified domestic participants and the contract settles in Yuan. International investors track the GFEX-implied China palladium price as a demand signal and trade COMEX palladium (PA) or palladium ETFs for exposure.