Chinese platinum group compound markets halted their prior downtrend and entered low-level range-bound consolidation, with spot shipment volumes rising and downstream purchasing appetite improving. Weak raw material prices have underpinned the price floor, while producers stabilized quotations and offered discounts to clear inventory, gradually easing supply pressure.
The most-active platinum futures contract fell significantly in midday trading on September 2, alongside palladium, as precious metals broadly slumped. The decline was part of a wider metals sell-off driven by a firmer US dollar and rising expectations of further Federal Reserve rate hikes, which weighed on non-yielding assets.
| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Platinum | China | CIF | USD 1,518.10/Ounce | July 2026 |
| Platinum | India | CIF | USD 1,518.10/Ounce | July 2026 |
| Platinum | USA | CIF | USD 1,518.10/Ounce | July 2026 |
| Platinum | Germany | FOB | USD 1,518.10/Ounce | July 2026 |
| Platinum | Australia | CIF | USD 1,518.10/Ounce | July 2026 |
| Platinum | China | CIF | USD 1,651.33/Ounce | June 2026 |
| Platinum | India | CIF | USD 1,651.33/Ounce | June 2026 |
| Platinum | USA | CIF | USD 1,651.33/Ounce | June 2026 |
| Platinum | Germany | FOB | USD 1,651.33/Ounce | June 2026 |
| Platinum | Australia | CIF | USD 1,651.33/Ounce | June 2026 |
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In China, Platinum prices averaged around USD 1,892/ounce in April and ~USD 1,651/ounce in June, showing a approx. 13% decrease. In India, Platinum prices similarly averaged ~USD 1,892/ounce in April and about USD 1,651/ounce in June. Prices corrected as profit-taking, a stronger US dollar, and higher-for-longer interest-rate expectations weakened investment sentiment. Supply remained a key constraint, with reduced exports from South Africa and geopolitical disruptions tightening availability in Asian markets. However, weaker investment flows contributed to expectations of a market surplus, while higher prices weighed on jewellery consumption, particularly in China. Industrial demand provided some support, with growth in industrial applications partly offsetting weaker automotive demand. In India, raw-material shortages also tightened platinum availability for platinum-based applications. Overall, supply restrictions limited the extent of the Q2 correction despite weaker investment and jewellery demand.
Analyst Insight
According to Procurement Resource, platinum prices may remain volatile, balancing constrained supply against investment sentiment and mixed automotive, jewellery, and industrial demand.
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The prices of platinum dropped during Q1'26 in the European region. The prices were about ~EUR 2,213/troy ounce in January, reducing to around ~EUR 1,952/troy ounce (Spot FD) in March, representing a drop of approximately 11.8%. The fall in prices was caused by lower demand from the automotive industry and decreased investor interest, resulting in price reductions. Although Iran-related tensions and the Middle East conflict increased uncertainty, platinum did not gain significantly as its demand is more industrial than safe-haven driven, which justified the declining trend. Other factors that contributed to the falling trend include recycling activities and higher supply, creating a surplus situation and thus pushing prices further down. In 2024, the total production of platinum through global mines stood at about 170,000 kg, resulting in a surplus that was dragged down in the current year. Overall, the platinum market remained weak with minimal recovery during the quarter.
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.
Pt
Catalyst, Electronics, Jewels, Thermocouples, Optical fibres, LCDs, Turbine blades, Spark plugs, Pacemakers , Dental fillings.
Platinum Black, Platin, Platinum Sponge
Johnson Matthey, Acros Organics, Anglo American Platinum Ltd, Sibanye-Stillwater, Norilsk Nickel Mining and Metallurgical Company, Russian Platinum
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
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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.
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.
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