Platinum futures rose above $950 per tonne, the highest in almost 1 week, amid reports that rising demand from the auto industry and lower supplies are expected to reduce the metal's surplus this year. On the supply side, platinum production could be constrained by major producer Russia's conflict with Ukraine, while output from another key producer, South Africa, is also projected to fall as the country’s two largest PGM refiners and mining activity are hit by operational challenges. In addition, logistical issues and limited automotive scrap feedstock should also impede supply from recycling. “The surplus in the nearly eight million ounce a year platinum market is expected to be 40% lower than in 2021 at 477,000 ounces this year”, Metals Focus reported. .

Historically, Platinum reached an all time high of 2290 in March of 2008. Platinum - data, forecasts, historical chart - was last updated on May of 2022.

Platinum is expected to trade at 916.35 USD/t oz. by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 853.00 in 12 months time.

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Price Day Month Year
Gold 1,813.96 -1.65 -0.09% -7.33% -3.34%
Silver 21.37 -0.023 -0.11% -15.11% -22.95%
Copper 4.19 0.0065 0.16% -9.96% -8.59%
Steel 4,880.00 -25.00 -0.51% -5.50% -3.48%
Iron Ore 123.00 -2.00 -1.60% -16.04% -41.57%
Lithium 457,500.00 0 0% -5.18% 414.04%
Platinum 927.62 -7.81 -0.83% -6.02% -22.44%

Platinum is mostly traded on the New York Mercantile Exchange, the Tokyo Commodity Exchange and the London Bullion Market. Platinum futures contract trades in units of 50 troy ounces. Platinum is among the world's scarcest metals and is used primarily in the production of automotive catalytic converters, in petroleum refineries and in the chemical and electrical industry. South Africa accounts for 80% of production followed by Russia and North America. Platinum prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.
Actual Previous Highest Lowest Dates Unit Frequency
926.41 935.43 2290.00 97.70 1968 - 2022 USD/t oz. Daily