QUOTE AND NEWS
newratings.com  Jul 25  Comment 
LONDON (dpa-AFX) - Lonmin PLC (LNMIF.PK, LMI.L) Friday reported that its total refined production for the third quarter was down 67.4 percent year-over-year to 36,255 ounces of saleable Platinum. Total PGMs produced were 82,515 ounces, a decrease...
Wall Street Journal  Jul 25  Comment 
Anglo American more than tripled net profit in the first half of the year after slashing costs but suffered setbacks at its iron-ore and platinum divisions.
Cloud Computing  Jul 24  Comment 
Masergy Communications Inc., a global leader in managed networking and cloud services, announced new Platinum and Gold partners for FY15 in its Global Partner Program. Top revenue-generating partners for FY14 were Avant Communications for overall...
Reuters  Jul 22  Comment 
* Stoppage follows highly damaging 5-month platinum strike
newratings.com  Jul 21  Comment 
WASHINGTON (dpa-AFX) - Boston Scientific Corp. (BSX) announced that it has received FDA approval for the REBEL Platinum Chromium Coronary Stent System, the company's latest generation bare-metal stent for the treatment of coronary artery...
Wall Street Journal  Jul 21  Comment 
Anglo American Platinum said it plans to sell some South African mines as it grapples with rising costs compounded by a five-month-long strike.
newratings.com  Jul 21  Comment 
LONDON (dpa-AFX) - Anglo American plc (AAUKY.PK, AAL.L ) reported that Anglo American Platinum Limited will contribute an underlying loss of $1 million for the six months ended 30 June 2014, which takes into account certain adjustments. In the...
newratings.com  Jul 21  Comment 
LONDON (dpa-AFX) - Diversified miner Anglo American plc (AAUKY, AAL.L) is mulling the sale of its oldest South African platinum mines to a local buyer, according to a Sunday Times report on Sunday. The move, which is expected to be announced as...
Commodity Online  Jul 21  Comment 
The rising global demand with rising supply concerns due to mine strikes in South Africa and potential Russia export restrictions has aggravated fears that already large supply deficits will worsen and has pushed prices for both metals.




 
TOP CONTRIBUTORS


Platinum is an exceedingly rare, silvery-white precious metal used in jewelry making, electronics components and various industrial applications. About half of all global platinum consumption is for the manufacture of automobile catalytic converters. [1]

Platinum is exceedingly rare (about 30 times rarer than gold) and found in only a few deposits worldwide. The largest known primary reserves are in South Africa's Bushweld complex, followed by deposits near Norilsk, Russia and the Sudbury Basin, Canada.

The chart at left shows continuos front-month futures prices for Platinum traded on the New York Mercantile Exchange.

Prices, Tickers, and Delivery Dates

Platinum futures contracts are traded on the New York Mercantile Exchange under ticker symbol PL and are delivered every year in January, April, July, October, November, and December. (For more information on commodity tickers, check out the commodity ticker construction page.)

What Impacts the Price of Platinum?

Because so much of the platinum's demand stems from car manufacturers, downturns in the auto industry can significantly affect the metal's price. During the market meltdown in 2008, for example, platinum prices fell 65% from their peak, driven downward in part by faltering car sales worldwide.

In addition, in 2008 platinum experienced a surplus that is expected to continue well into 2009, and perhaps even 2010. This oversupply has also negatively impacted platinum prices.

However, in early 2009, platinum started to regain its strength. As investors returned to the metal, seeking a safe haven, holdings of ETF Securities's Physical Platinum ETF (LSE: PHPT.L) rose 87% over the first quarter of the year.[2]

In April 2009, ETF Securities announced it would launch a bullion-backed platinum ETF in the U.S.[3] (a similar ETF already exists for European investors), which led some to speculate that hoarding bullion for the ETF could cause shortages and drive up prices.[4] Similar concerns were raised about the launch of ETFS's first platinum ETF back in 2007, but the fund's impact on the market was hard to discern at the time, due to roving blackouts in South Africa that had disrupted supply.[5]

References

  1. Bloomberg - Platinum, Palladium Fall as Slumping Auto Sales Erode Demand.
  2. Reuters - ETF Securities' platinum holdings jump in Q1.
  3. Index Universe - ETFS Files for Palladium and Platinum ETFs.
  4. WSJ - Platinum's Outlook Isn't Gold-Plated.
  5. HAI - Platinum Supplies Hoarded By ETF.
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