Platinum Use in Cars Expected to Increase to $7 Billion
Mining Weekly reported carmakers will use $7-billion worth of platinum in catalytic converters next year, diminishing overstock as production declines.
Articles Tagged "catalytic converters"
Further Downside Risks to Platinum Price
IBTimes reported platinum prices have suffered from significant sales pressure in recent weeks as concerns about the global economy grow.
Platinum Prices May Get Lift from North American Trucking Companies
IBTimes reported platinum prices could rise next year if North American trucking companies proceed with plans to buy new vehicles, UBS said.
Platinum Riding High
Platinum prices hovered around US$1,530 per ounce again Monday. Stuck between US$1,500 and US$1,600 since mid-May, analysts are predicting demand for platinum – used in everything from cars, to computers and cell phones – could be heating up and prices could be on the rise.
Platinum Plummets
Auto market woes extend to platinum, pushing it to a six month low. It was just last March that platinum reached a record high of $2,290 per ounce- as power shortages in primary producer South Africa disrupted mining and triggered supply worries. Now, platinum has gone through a catastrophic drop as poor auto sales plague the market.
