Get the latest insights on price movement and trends analysis of Platinum in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
Platinum Price Trends for the First Half of 2023
In the first two quarters of 2023, the platinum market witnessed a price decline due to the economic downturn and slower growth rate observed in China.
On the other hand, despite this, demand for platinum from investors, car manufacturers, and industries remained strong, as it was driven in part by the substitution of palladium with platinum in gasoline after-treatment systems. In the US markets, the supply constraints were caused by reduced mine production and high uncertainties in South Africa's electricity availability. A similar trends was seen in the European countries also. Due to the unfavorable market dynamics, the spot FD prices of platinum in Europe fell from approximately 1061 USD/troy ounce in January’23 to almost 981 USD/troy ounce in June’23.
In addition to this, the current sluggish world economy has led to subdued demand for platinum and other key materials that are used in car manufacturing. Further, the reduced car sales, along with the adoption of alternatives in electric vehicles, have further dampened demand for platinum and related metals.
According to Procurement Resource, the price of Platinum is expected to depict an oscillating trends as the demand for platinum is moving in the upward direction, but the current market dynamics are hampered by the slow movement of the economy and the decline in the number of sales of the automotive sector are challenging the growth of platinum price trends.
Procurement Resource provides latest prices of Platinum. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
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.
|Industrial Uses||Catalyst, Electronics, Jewels, Thermocouples, Optical fibres, LCDs, Turbine blades, Spark plugs, Pacemakers , Dental fillings.|
|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.
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.
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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