Raymond noted that while platinum’s surplus is expected to remain elevated, there is still a lot of uncertainty in the marketplace, especially as the world continues to deal with Russia’s war with Ukraine. He noted that Russia represents about 10% of the world’s platinum supply. Furthermore, a number of companies are continuing to face energy challenges, as well as operational difficulties, due to the ongoing global energy crisis. As platinum mining is both energy intensive and requires significant water, mines located in areas of frequent droughts have also seen shortages recently, leading to boosted prices. After its price skyrocketed in late February-early March 2022, palladium lost close to 20% of its trading value.
- But when it comes to disappointment, platinum, like silver, can be relied on to deliver.
- We’re going to have some sort of change next year because consumers are really upset about all the food and energy inflation.
- In the beginning at 1424 A$.
- At the end of the month 1530, change for April -0.2%.
- In that case, palladium fell below $500.
- The automotive sector is the largest consumer of platinum, followed by other industrial end-users, like chemical, petroleum, electrical, glass, medical and biomedical.
Platinum price forecast for February 2024. In the beginning at 1427 A$. At the end of the month 1494, change for February 4.7%. Platinum price forecast for December 2023.
Falling vehicles output in Europe and China
Speaking of the long term, the platinum price prediction for the years 2025 to 2030 is mentioned. In the year 2025, the mid-year platinum prices are said to be USD 2805, and towards the end of the year, it is said to be USD 2806. These elements include iridium, osmium, palladium, platinum, rhodium, and ruthenium.
At the same time, due to its distinctive qualities as a precious metal, it is the best metal for jewelry. Primary mining production and recycling, which mainly comes from reusing jewelry and old auto catalysts, are the two main sources of platinum supply. The Relative Strength Index (RSI) for the precious metal is notably high at 78, indicating a potentially overbought market. Conclusively, the overarching sentiment for gold appears bearish, especially if it remains below the $1880 threshold, highlighting a potential triple-top pattern. In the short term, market participants can anticipate yellow metal gold, potentially challenging the mentioned resistance levels in the ensuing trading sessions.
- Platinum price prediction for July 2027.
- Platinum price forecast for October 2027.
- Flight bans were the first sign of a dramatic change in the palladium market.
At the end of the month 1519, change for August 6.2%. Platinum thinkmarkets broker review price forecast for June 2025. In the beginning at 1530 A$.
Strong Automotive Demand
In 2022, Nornickel said it expects that the chip supply will recover in the second half of the year but still, automotive production will struggle to return to the pre-COVID levels until 2023. Taking into account the improving Russian supply, it is expected that palladium market to be in a deficit of 0.3 Moz in 2022. In its latest report on the platinum market, the council described the precious metal as having a complicated 2021 with strong demand but even stronger supply. Analysts at Australia and New Zealand Banking Group (ANZ) project that in 2022, demand for palladium will increase by 449,000 ounces, further widening the deficit in supply. Automotive catalysts are likely to account for most of it.
Overall, the technical picture looks to be favourable for the continuation of bullish momentum, after the breach of the 61.8% Fibonacci level and the formation of a golden cross in early December. You’ll receive an e-mail with a link to access the report. The affiliate programme is not permitted in Spain for the commercialisation of investment services and client acquisitions by unauthorised third parties. On a vastly different note, palladium is expected to turn its sharp bearish trend into a bullish one by the end of the year (taken from Long Forecast). According to Wallet Investor, palladium might have a mild bullish run.
At the end of the month 1495, change for June 6.2%. Platinum price forecast for April 2027. In the beginning at 1441 A$. At capex broker analysis the end of the month 1368, change for April -5.1%. Platinum price forecast for February 2027. In the beginning at 1407 A$.
Read more: Copper price analysis: Will tightened supply support prices?
(Kitco News) – Nornickel, the world’s largest producer of palladium and high-grade nickel, today presented the eighth review of the nickel and platinum group metals (PGM) markets prepared in alliance with ICBC Standard Bank. « There is this misconception in the market that platinum is readily available, but the supply is a lot more fragile than some would believe. » Platinum, which in Q saw its best quarter since Q1 2008, has successfully maintained its upswing so far this year as well. This was largely helped by China buying up copious amounts of the precious metal, presumably in anticipation of its industrial and automotive manufacturing activity soon picking up speed once more. But in 2022, the price shot up over concerns of a shortage. Flight bans were the first sign of a dramatic change in the palladium market.
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As more countries implement stricter emission standards to combat pollution and global warming, the demand for autocatalytic converters has risen, boosting global platinum demand. The platinum price fell over the past week as lower automotive catalytic demand and a stronger US dollar weighed on the market. In 2022, Nornickel expects the market to swing to a 59 kt surplus in the base case scenario, mostly in low-grade nickel, and the high-grade nickel market is forecasted to be balanced with a risk of deficit.
Fewer scrapped autocatalysts and less Chinese jewelry being sold back made up the largest portion of the shrinking segment. Q3’s output reduction contributed to 2022’s 9 percent year-on-year fall in platinum mine supply. 2022 saw the platinum market fall into deficit. Find out how exness company review impactful this shortfall will be in the year ahead. The Q3 report from the WPIC shows how the current supply/demand imbalance could spill over to 2021, as the pandemic situation continues to be an obstacle for miners in South Africa. Platinum price prediction for November 2027.
In the beginning at 1385 A$. At the end of the month 1441, change for March 4.0%. Platinum price prediction for January 2027.
Platinum can also be extracted from sperrylite and cooperate ores. Because of its high boiling point, and its resistance to water, air and many acids, platinum is used primarily to manufacture automotive catalytic converters, in the chemical and electrical industry and in petroleum refineries. The price of platinum is determined by the global auto industry, air quality regulations, changes in catalytic convertor technology, the availability of substitutes, and investment demand. In 2022, the platinum market will be better as demand will outpace supply.
Looking ahead, Trevor Raymond, director of research at the WPIC, said that the demand trends seen last year are expected to remain in place through 2022. He added that the platinum supply looks to be flat as most of the stockpile of platinum ore has now been processed. (Kitco News) – Platinum investors should prepare for a year of volatility as the supply and demand outlook for remains solidly fluid, according to the World Platinum Investment Council (WPIC). If platinum breaks through this level, bulls will have a solid case to attack 1,179, which corresponds to the March 8th, 2022 highs.