Car Market Recovery in Western Europe May Raise Platinum Prices

Mineweb reported that a recovery in the Western European car market may push platinum prices up next year, largely due to the fact that European demand accounts for around one-third of global platinum demand for use in autocatalysts.

As quoted in the market news:

If the October increase can be maintained for next year then platinum demand for European autocatalysts could exceed 1.5 million ounces compared with an expected 1.3 million ounces this year. The 200 000 ounces additional demand could help lift the platinum price above $1 500 an ounce next year.

Click here to read the full Mineweb report.