# Platinum: Overview

Exhaust catalysts, refineries, glass and medicine

Source page: https://www.materialinsights.org/commodities/platinum/overview/

What this tab covers What the commodity is used for, why, in what volumes and with what alternatives, and its chain from mine or field to end user. Also the latest price moves, top recent news, three things to know, and buttons into each tab.

#### Key uses

| Use | Share | Annual volume | Why this commodity | Alternatives |
|---|---|---|---|---|
| **Autocatalysts (diesel and gasoline exhaust treatment)** | 67% | n/a basis | Platinum oxidises carbon monoxide and hydrocarbons at high temperature and survives years of heat and sulphur, so it is the standard catalyst for diesel engines and, increasingly, gasoline engines. Makers substituted platinum for costlier palladium after 2018-2022, a shift USGS cites for 2025. EU CRM study 2023, platinum end-use shares (EU); USGS MCS 2026, Platinum-group metals (substitution) | Palladium (most gasoline catalysts; up to 25-50% of platinum in diesel catalysts) Battery-electric vehicles (no catalyst) |
| **Jewellery** | 8% | n/a basis | Platinum is white, dense, hypoallergenic and does not need rhodium plating, so it suits wedding bands and settings. China and Japan built large platinum jewellery markets; India's market is small but growing. Demand moves with the gold-platinum price gap. EU CRM study 2023, platinum end-use shares (EU) | White gold (rhodium-plated) Palladium jewellery Silver |
| **Chemical and petroleum refining catalysts** | 7% | n/a basis | Platinum gauzes make nitric acid for fertilisers and explosives, and platinum-rhenium catalysts reform naphtha into high-octane petrol in refineries. The metal is mostly leased or recycled in closed loops, so net consumption is lower than gross use. EU CRM study 2023, platinum end-use shares (EU) | Palladium and rhodium (some chemical catalysts) Non-precious zeolite catalysts (some refinery processes) |
| **Medical and biomedical** | 3% | n/a basis | Platinum is inert in the body and visible on X-ray, so it is used in pacemaker leads, stents, catheters and the cancer drugs cisplatin and carboplatin. EU CRM study 2023, platinum end-use shares (EU) | Platinum-iridium alloys Stainless steel and titanium (some devices) |
| **Electronics and glass** | 3% | n/a basis | Platinum bushings and crucibles hold molten glass for fibreglass and LCD glass without contaminating it; electronics use it in sensors, hard disks and thermocouples. Much glass-industry metal is recycled. EU CRM study 2023, platinum end-use shares (EU) | Rhodium-platinum alloys Ceramic refractories (lower-grade glass) |
| **Hydrogen: PEM electrolysers and fuel cells** | 2% | n/a basis | Proton-exchange-membrane fuel cells and electrolysers need platinum (and iridium) catalysts on their electrodes. Volumes are small today; hopes for a hydrogen economy are a long-run demand story that USGS says waned in 2025. EU CRM study 2023, platinum end-use shares (EU); USGS MCS 2026, Platinum-group metals | Alkaline electrolysers (nickel-based) Solid oxide cells Batteries (instead of fuel cells) |

 Shares are EU end-uses from the EU CRM study 2023 (remaining 10% 'other'). Globally, WPIC put 2025 demand at 8,671 koz (about 270 t): automotive 3,039 koz (35%), industrial 2,266 koz (26%), jewellery 2,214 koz (26%) and investment 1,152 koz (13%). It estimated a 2025 deficit of 1,440 koz and forecast a small 2026 surplus of 265 koz on demand of 7,089 koz (WPIC Platinum Quarterly Q2 2026, 9 Sep 2026).

#### From mine to user

1. **Mining** Narrow, deep reefs in South Africa's Bushveld Complex (120 t Pt of 170 t world, 2025e, USGS), the Great Dyke in Zimbabwe (18 t) and nickel-copper ores in Russia (20 t).
2. **Concentration** Ore of a few grams per tonne of PGMs is milled and floated into a concentrate with nickel and copper sulphides.
3. **Smelting and converting** Electric furnaces smelt concentrate to a nickel-copper-PGM matte; power supply disruptions in South Africa cut output in 2025 (USGS).
4. **Base-metal and precious-metal refining** Nickel and copper are leached out; the PGM residue is separated into platinum, palladium, rhodium, ruthenium, iridium and gold, typically 99.95% sponge or ingot.
5. **Trading and fabrication** Producers sell on term contracts to catalyst makers (Johnson Matthey, BASF, Umicore, Heraeus), glass and chemical firms and jewellers; London and Zurich (LPPM) host the wholesale market.
6. **End use** Catalysts in cars and refineries, jewellery, medical devices, glass bushings, electrolysers.
7. **Recycling** About 140 t of platinum and palladium were recovered from scrap worldwide in 2025, including 8.6 t of platinum from US autocatalysts (USGS).

#### Price movement snapshot 2026-10-25
 NYMEX platinum futures (front month) 1,562 US$/troy oz Close 2026-10-23 · Yahoo Finance 1 week **-3.8%** 6 months **-21.1%** World production 179k kg, 2024 Largest producer South Africa 70.21% of world

#### Three things to know

- South Africa mined 70.2% of the world's platinum in 2024 (World Mining Data).
- One Bushveld mine hoists 200,000 tons of rock a month, each ton holding four to seven grams of platinum (Pitron, pdf p. 78).
- In real 2010 dollars platinum's annual price nearly halved, from $1,610 in 2010 to $830 in 2024 (World Bank).

#### Top recent news snapshot 2026-10-25, last 30 days

- [Today’s Platinum Price in Malappuram – Live Platinum Rate per Gram & Kg | 16 October 2026](https://news.google.com/rss/articles/CBMimgFBVV95cUxPZXRQdk0wVzA1MlRWbHlTSHEtZ081Z2JEYk81bENfNUVzXzc4Zk9nZzBIX2lFT2JOdTU3Nl9KY1Y5dWZfVkxnN1N2ei1vVm9UVjZEZURpa1JvZndBWmQyb0kxbFdublhObXVsRW1xSDJkUEEwX0xKeFVWT2N6OUNEV0N0dlBldTUyWFFtLXFYOEdpc0dwUmc3NGdR?oc=5)The Times of India · 2026-10-16
- [World’s Biggest Platinum Mine Nears Decision on Underground Move](https://news.google.com/rss/articles/CBMitgFBVV95cUxQS0hZa0VWX3o3cXBKQi04LTFFWmJjclZjazZKVVZsOWFiTmdRMng0cWFTc092Zldtc0VtWU9OMkpONDd3QUFBSENaWEZIdUVDcEdla1pZamZuUkJNSVFvUlFVZ1VVM1ROOWFKb1lMTUZKdk1VNThLRmZialdHYkdCRlBRbnRhckp5ZGlvNEwzblk0bkFfdndjVXppc242b1k5WFgzODFDZmxKZjRFcjlSR19pbnZqQQ?oc=5)Bloomberg.com · 2026-10-15
- [Automotive transition reshapes platinum’s mine-to-market supply chain](https://news.google.com/rss/articles/CBMisgFBVV95cUxNRVk1cll0cEhOakxHMURydTc3cjVLNmhSZ0ZMX3c0M2ZXYmpoNVJuUG5ZVjk1WE9oWk5LOVhkczdubmkyX19YOHoxUXlURy1OS01VWTk3ZVZ0eU9tNjlYZHpNSVI0cFNhYVJXSWJZMllQUEEtTG4yZ2g5QzN3QVV5YmZMN19HU0tWRkFKVll0Nk5uRDR2Q2VSRFV3VU5hbzV0bHBuel8tcWZ5UXF4Z0oxNnh3?oc=5)Mining Technology · 2026-10-21
- [Platinum Industries share price jumps 14%: Technical analyst sees further upside; Check key levels to watch](https://news.google.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?oc=5)Livemint · 2026-10-19
- [An African Platinum Giant Mulls Going Even Bigger](https://news.google.com/rss/articles/CBMivwFBVV95cUxPQTZabUl3eXM4LS1BbUc4SmpGVll4QldDMHl4LWtWWHAzOS1qeXpRVGhpZnhDMlh2Nk1nSEo5OWFtRUFjY21NeERMVXBTckVVcDZBYlBJYlpOWGVJcy1RTDAtZUFKWGlqeERQODREYi1sMmphbGExMmtkVEVwUFVnX3NTd1p0YUExcHF4akQ5NDRYZ1lhVkhOZDR1Vzgzbld0RmxVeEFOd1lFZlJtRFhtY3o3aWJKLURqUWQ4RS1jMA?oc=5)Bloomberg.com · 2026-10-15

#### Chemicals made from it
[PGM Autocatalysts](https://www.materialinsights.org/chemicals/autocatalysts/)[Cat Chemical process catalysts](https://www.materialinsights.org/chemicals/process_catalysts/)

#### Read the tabs
[Extraction](https://www.materialinsights.org/commodities/platinum/extraction/)[Production](https://www.materialinsights.org/commodities/platinum/production/)[Stocks](https://www.materialinsights.org/commodities/platinum/stocks/)[Cycles](https://www.materialinsights.org/commodities/platinum/cycles/)[Trading](https://www.materialinsights.org/commodities/platinum/trading/)[Movement](https://www.materialinsights.org/commodities/platinum/movement/)[Criticality](https://www.materialinsights.org/commodities/platinum/criticality/)[Characteristics](https://www.materialinsights.org/commodities/platinum/characteristics/)[Emissions](https://www.materialinsights.org/commodities/platinum/emissions/)

## Other sections

- [Summary](https://www.materialinsights.org/commodities/platinum/index.md)
- [Correlation](https://www.materialinsights.org/commodities/platinum/correlation/index.md)
- [Extraction](https://www.materialinsights.org/commodities/platinum/extraction/index.md)
- [Production](https://www.materialinsights.org/commodities/platinum/production/index.md)
- [Stocks](https://www.materialinsights.org/commodities/platinum/stocks/index.md)
- [Cycles](https://www.materialinsights.org/commodities/platinum/cycles/index.md)
- [Trading](https://www.materialinsights.org/commodities/platinum/trading/index.md)
- [Movement](https://www.materialinsights.org/commodities/platinum/movement/index.md)
- [Criticality](https://www.materialinsights.org/commodities/platinum/criticality/index.md)
- [Characteristics](https://www.materialinsights.org/commodities/platinum/characteristics/index.md)
- [Emissions](https://www.materialinsights.org/commodities/platinum/emissions/index.md)
- [Relationships](https://www.materialinsights.org/commodities/platinum/links/index.md)