Autocatalyst demand contributes to PGM price shift

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Autocatalysts are major users of platinum group metals (pgm). Tom Kendall, editor of Johnson Matthey’s Platinum Review, looks at the fundamentals of the pgm markets, and reviews the reasons behind the dramatic price movements of recent years.

In the pgm markets, supply and demand and buyers and sellers take several forms, which have different impacts on the prices of the metals. The factors that drive the availability of physical metal and the demand for it from end users are termed the fundamentals of the market. The fundamentals of supply encompass how much metal is being produced and offered for sale by primary and secondary refineries, plus the amount of metal held in above ground stocks by mines, banks, dealers, governments and end users that is available for sale or lending. The demand fundamentals represent the level of buying interest for physical metal from end users such as car companies, jewellery manufacturers and other industrial consumers.

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