Core Viewpoint - Platinum has experienced a significant price surge, outperforming gold and silver, driven by supply-demand imbalances and heightened investment interest [3][6][24]. Group 1: Price Surge and Market Dynamics - As of July 18, platinum prices exceeded $1480.00 per ounce, marking a year-to-date increase of over 57%, making it the best-performing asset class globally [3]. - The surge in platinum prices is attributed to a decline in supply, particularly from South Africa, the largest producer, where production has decreased due to seasonal factors [6][9]. - Demand for platinum is on the rise, especially in the automotive sector, where it is used extensively in catalytic converters, accounting for over 48% of total demand [7][8]. Group 2: Impact on Companies - Companies involved in platinum jewelry and recycling have seen significant stock price increases. For instance, Mingpai Jewelry's stock rose over 21% during the price surge [9]. - Haotong Technology, a leader in recycling platinum, reported a 129.46% year-on-year increase in revenue for Q1, benefiting from the rising platinum prices and expanding its recycling capacity [11][12]. Group 3: Future Demand and Market Trends - Despite the rise of electric vehicles, which do not use platinum in the same way as traditional fuel vehicles, the overall demand for platinum remains strong due to regulatory pressures for cleaner emissions [15][20]. - The automotive industry is expected to continue driving platinum demand, with stricter emissions standards leading to increased use of platinum in catalytic converters [20][23]. - The demand for platinum bars in China surged by 140% in Q1, indicating a growing interest among investors [24]. Group 4: Investment Considerations - Platinum is being viewed as an alternative investment to gold, especially in light of its recent performance and the ongoing global push for green policies [25][26]. - Investors are advised to adopt a cautious approach, focusing on physical platinum or ETFs rather than high-leverage instruments, due to the volatility of platinum prices [26][28].
黄金平替,比黄金涨得还猛
首席商业评论·2025-07-24 03:54