Platinum Futures Near Record High

2025-12-22 12:50 By Dongting Liu 1 min. read

Platinum futures surged to above $2,200 per ounce, hitting a record high, driven by tight supply conditions and strong investment demand.

On the supply side, the market has recorded three consecutive annual deficits, with the 2025 shortfall estimated at 692,000 ounces.

This has cut above-ground stocks by 42%, leaving less than five months of coverage.

Demand fundamentals have also strengthened.

The EU softened its planned 2035 ban on combustion-engine vehicles, proposing a 90% reduction in CO2 emissions from 2021 levels while allowing plug-in hybrids.

This shift is expected to slow the pace of electrification and support long-term platinum demand for automotive catalysts.

Investment demand remains robust, with the World Platinum Investment Council projecting Chinese platinum bar and coin purchases of 418,000 ounces in 2025.

Confidence in Chinese demand has also been boosted by the launch of platinum futures on the Guangzhou Futures Exchange.



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