Platinum Use in Cars Expected to Increase to $7 Billion

Mining Weekly reported carmakers will use $7-billion worth of platinum in catalytic converters next year, diminishing overstock as production declines.

As quoted in the market news:

Barclays Capital believes that supply will exceed demand by 81 000 oz. Morgan Stanley expects an average price of $1 829/oz next year, which would translate into auto catalysts using metal valued at $6.99-billion.

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