Platinum futures were trading around $1,150 per troy ounce in June, well below the six-year peak of 1,337 touched on February 16th, as concerns about supply disruptions eased, leading investors to unwind bullish positions and sell futures contracts. As COVID-19 restrictions eased in South Africa, the return of mining operations 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 June of 2021.
Platinum is expected to trade at 1105.73 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 992.36 in 12 months time.