Platinum futures fell towards $1,100 per troy ounce, the lowest since early February as supply disruptions continue to ease. The return of mining operations in South Africa amid easing Covid-19 restrictions is due to lead to a rebound in platinum output, which should resolve backlogs of around one million ounces and push the market into a surplus. Still, demand for platinum has been growing amid tighter emissions controls in China and Europe and from green energy plans due to its uses in the production of green hydrogen and hydrogen-run vehicles.
Historically, Platinum reached an all time high of 2290 in March of 2008. Platinum - data, forecasts, historical chart - was last updated on July of 2021.
Platinum is expected to trade at 1147.66 USD/t oz. by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1339.61 in 12 months time.