PGM Price Movement Snapshot – Feb 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 – February saw the platinum increase to above the $1200/Toz mark hitting $1306/Toz during a mid-month high. This is still mainly down to continued production issues in South Africa. Anglo's Phase A converter is back up and running from mid-December but the backlog in processing is likely to maintain this price for the short term.
Iridium – After December & January saw to first real price jump in Iridium for over 2 years the price has continued to steadily increase through February hitting all time highs. Published prices for the small PGM's are not tradeable unlike with other precious metals such as gold and silver. Actual purchase prices have been reportedly even higher and the spread across the markets is large. The high price is a combination of the continued production issues mentioned above and new demand from ballast water treatment systems. 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 also seen a further increase over February reaching $350/Toz.