Platinum Price OutlookPlatinum prices remained depressed at the start of May. On 11 May, platinum traded at USD 926 per troy ounce, among the lowest prices since the beginning of the year. The print was down 0.8% from the same day last month, but was 0.1% lower on a year-to-date basis. Moreover, the price was up 1.6% from the same day in 2017. Prices for the precious metal have been kept subdued by supply outweighing demand. Platinum supply has been constrained by the closures of unprofitable mines in South Africa owing to a lack of investment, which ramped up maintenance costs. That said, recent reports indicate that South African platinum miners are now beginning to increase supply despite weak prices. This will further suppress platinum prices. Looking at the demand side, the shift away from diesel-run vehicles to electric-powered alternatives to limit pollution levels has struck the platinum industry hard; platinum is used in the catalytic converters of diesel-powered cars.
Platinum Price History Data (USD per troy ounce, aop)
Price forecasts and historical data for Energy, Metals and Agricultural Commodities.
Platinum Historical Price Chart
Price forecasts and historical data for Energy, Metals and Agricultural Commodities
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