Heavy China platinum imports spur shortages elsewhere, WPIC says
Comment of the Day

September 08 2022

Commentary by Eoin Treacy

Heavy China platinum imports spur shortages elsewhere, WPIC says

This article from Reuters may be of interest to subscribers. Here is a section:

It was difficult to track what happened to some of the Chinese imports, so the platinum market was in surplus on paper but on the ground tightness sent lease rates surging to the highest levels in a decade, the WPIC said in its latest quarterly report.

And

China may be increasing its platinum loadings in catalytic converters of heavy vehicles due to stricter emission standards, he said.

Eoin Treacy's view

Nothing emphasised the fact platinum is an industrial metal more than its demise during Volkswagen’s diesel cheating scandal. The price collapsed and has not recovered because investment demand has not compensated for the loss of automaker buying.

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