The price has remained tepid since the metal’s value doubled during the first year of the pandemic. However, for the first time since 2018, the price of platinum is nearing parity with its sister metal palladium, which will have implications for substitution in the autocatalyst market.
Potentially lifting supply, Future Metals reports good results from its multi-metallic mine with sizeable platinum content in Australia.
Russia’s platinum production continues to suffer from poor maintenance and unavailability of key components following a 15% drop in 2023.
Zimbabwe’s platinum output continues to grow year-on-year; main producer Zimplats is executing its USD1.8bn capital expenditure programme.
Investment interest should respond to the excitement regarding the growing hydrogen sector; fuel cells use platinum in catalysts.
