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What metal materials will platinum and palladium replace in the industry

Time：2021-12-21Number：1165

Platinum has fallen against the trend this year, and the outlook for next year is still not optimistic

Barron's Weekly recently published an article stating that platinum and palladium gold are going against the overall strength of commodities, experiencing a significant decline for the first time in recent years and may further decline in 2022. The global chip shortage has affected the demand for platinum and palladium used in automotive production. The decline in platinum and palladium contrasts sharply with the S&P Goldman Sachs Commodity Index, which has risen 28% so far this year and is expected to achieve its largest annual increase since 2009. The latest report from the World Platinum Investment Association suggests that platinum and palladium may further decline next year, as many of the trends that dominated 2021 are expected to continue into next year. It is expected that there will be a surplus of 769000 ounces of platinum supply this year, and a surplus of 637000 ounces next year. Since soaring to historical highs six months ago, palladium prices have fallen by one-third as car manufacturers shift to using platinum and other metals to limit toxic emissions from oil engines, a trend expected to continue in 2022.

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What metal materials will platinum and palladium replace in the industry

Platinum has fallen against the trend this year, and the outlook for next year is still not optimistic