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Platinum


Introduction

  • Platinum is a chemical product with symbol Pt and atomic number 78. It is a rarest element in the Earth's crust.
  • It is the least reactive metal, often used in catalytic converters, medical and dental equipment, and jewelry.
  • It has several unique chemical and physical properties that make it essential in a wide range of industrial and environmental applications.

Supply and Demand

  • In recent years however, platinum exchange traded funds (ETFs) and other exchange trade products (ETPs) have provided a boost, albeit inconsistent, to platinum demand.
  • In 2008, supply of platinum is met by mine production, auto catalyst refining and jewellery refining with their respective contribution estimated to be 6.15 million ounces, 1 million ounce, & 0.9 million ounce.
  • Industry analysts do not include platinum investment demand as part of overall demand partially because sales of platinum coins have been de minimus.
  • Production of platinum is highly dependent on South Africa's Production to be 4.7million ounces; 0.74, 0.25, 0.33 million ounces respectively.
  • Platinum mining represented approximately 83% of the annual global platinum supply of about 6,000,000 ounces in 2013.
  • South Africa and Russia both countries are main supplier for platinum

Global Platinum market

  • London platinum and Palladium market which provides the industry benchmark price London Fix.
  • CME (Comex) TOCOM (Japan), MCX (Mumbai).

Indian platinum market

  • Platinum has been increasing on economic growth to rising industrial, demand and increasing prefrences for platinum jewellery in urban areas.
  • Total Consumption of platinum to be around 932kgs in 2008-2009, which was around 1200 kgs in 2009-2010.

Factors Influencing the Market

  • Some factors that influence the market are: Economic events, global financial crisis, recession, & inflation affect metal prices.
  • Events such as the construction of new production facility or processes, unexpected mine or plant closures; or industry restructuring, all affect metal prices.
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Metal

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Minerals

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Chemicals