PGM Price Movement Snapshot – May 21
As a precious metal chemistry specialist, we are in touch with banks & trade houses and are constantly monitoring the fluctuating metals market. Last year, the Covid-19 situation threw the market into some turmoil.
Metal prices can now be tracked on our home page: www.ceimig.co.uk
In order to assist our customers, such as PEM electrolyser manufacturers, PEM Fuel Cell manufacturers and sensor manufacturers, we have put together the below information so you can have a snapshot of the trend in the market over the last month and the last 3 months:
Platinum – For the last few month the platinum price has hovered around the $1200/Toz mark. Anglo's Phase A converter is back up and running from mid-December and outputs are returning to normal but as economy's start to recover due to vaccine rollout the demand is also increasing.
Iridium – The iridium has stabilised somewhat over May, albeit at a very high level. The increase in price has slowed over the last 3 months and the spread across the different platforms is being reduced. It is hoped this price increase will be short lived but we will need to see how the market reacts as availability improves. As Iridium is the slowest PGM for conversion it is likely to be around for the next few months.
Ruthenium - The Ruthenium price has risen drastically through May to >$800/Toz. An uptick in demand for ruthenium containing electronics may have caused some speculation on the availability of the metal which may have lead to a rush on trades. This may have in fact caused the price to rally as availability should now be approaching prepandemic levels.