Product
Platinum Price Trend and Forecast
Platinum Price Trend and Forecast
Regional Price Overview
Get the latest insights on price movement and trend analysis of Platinum in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
Traders sharply reduced their price forecasts for platinum and palladium after a chip shortage forced automakers to reduce production of vehicles containing the metals in 2021.
Automobile manufacturers account for approximately 40% of platinum demand and 80% of palladium demand, with platinum and palladium embedded in exhaust systems to neutralise harmful emissions. The chip shortage grew worse over the summer of 2021 and is expected to continue this year as well.
It contributed to platinum prices falling from a seven-year high of 1,336.50 USD/oz in February to as low as 901.30 USD/oz in May. It was anticipated that platinum would average 1,000 USD/oz in the final three months of 2021 and 1,110 USD/oz in 2022.
About
In appearance, Platinum is silvery, whitish-gray, malleable, ductile metal. It is shipped as a finely divided powder (platinum black), as a sponge, as well as particles deposited on a supporting material like alumina. It has a strong catalytic activity in different forms. It is highly resistant to corrosion and is widely used as jewels.
Product Details
| Report Features | Details |
| Product Name | Platinum |
| Industrial Uses | Catalyst, Electronics, Jewels, Thermocouples, Optical fibres, LCDs, Turbine blades, Spark plugs, Pacemakers , Dental fillings. |
| Chemical Formula | Pt |
| Synonyms | 7440-06-4, Platinum Black, Platin, Platinum sponge |
| Molecular Weight | 195.08 g/mol |
| Supplier Database | Johnson Matthey, Acros Organics, Anglo American Platinum Ltd, Sibanye-Stillwater, Norilsk Nickel Mining and Metallurgical Company, Russian Platinum |
| Region/Countries Covered | Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece North America: United States and Canada Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru Africa: South Africa, Nigeria, Egypt, Algeria, Morocco |
| Currency | US$ (Data can also be provided in local currency) |
| Supplier Database Availability | Yes |
| Customization Scope | The report can be customized as per the requirements of the customer |
| Post-Sale Analyst Support | 360-degree analyst support after report delivery |
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Production Process
- Production of Platinum via Froth Flotation Process
In the froth flotation process, first step is to crush platinum containing ore and immerse it in the reagent containing water. During the flotation, air is pumped through the ore-water slurry, leading Platinum particles to rise to the surface in a froth, which is further skimmed for refining and obtaining Platinum.
Methodology
The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
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