Can Platinum Maintain Its Upward Trajectory? | Presented by CME Group

Market Trends & Supply/Demand Dynamics - Platinum prices experienced a significant surge, increasing by 40% in the first half of 2025 [1] - The platinum market is facing a supply deficit for the third consecutive year, with a shortage of nearly 1 million troy ounces out of an approximate 8 million troy ounce annual market [2] - Platinum supply from South African mines decreased by 12% in the first quarter [3] - Platinum recycling from scrap cars has declined from 2022 levels [3] - Demand for platinum is increasing from China, the world's largest consumer [3] Investment & Pricing - Investment demand for platinum has increased by 300% year-over-year due to record gold prices [4] - Platinum futures are in contango, suggesting that near-term supplies are not as tight relative to demand [4] Industry Applications - Platinum is used in jewelry, catalytic converters, and new hydrogen technologies [1]