Weekly Special Report: Platinum

PLATINUM USE AND MARKET SHARE

• PLATINUM has been a key element in auto catalysts for over forty years, especially for diesel engines, and is increasingly vital in hydrogen fuel cells. The automotive sector is its largest consumer, accounting for about 40% of annual demand.
• MARKET SHARE: LARGEST PLATINUM CONSUMER IN THE WORLD. The latest official available data for 2024 showed that China is the world's largest platinum consumer, with a 29% market share.
• MARKET SHARE: LARGEST PLATINUM PRODUCERS IN THE WORLD. South Africa is the largest producer, holding 70–74% of the global market share, while Russia is the second-largest, with 10–12% of the market. Zimbabwe is third, with 5–8%.

PLATINUM: LOW GLOBAL INVENTORIES

• PLATINUM OUTLOOK REMAINS POSITIVE AS GLOBAL INVENTORIES REMAIN LOW. Platinum inventories remain critically low after several years of significant deficits, while supply has limited room to increase significantly. At the same time, industrial demand is expected to grow, supported by applications in automotive, electronics and AI-related infrastructure.

PLATINUM: U.S. SHIFT TOWARDS HYBRIDS SUPPORT DEMAND

• U.S. CAR PRODUCERS SUCH AS FORD, GM AND STELLANTIS ARE SHIFTING MORE PRODUCTION BACK TOWARDS GASOLINE AND HYBRID VEHICLES AS EV DEMAND WEAKENS. U.S. EV sales fell 21% year-on-year, while hybrids accounted for 19% of retail vehicle sales in August 2026. Gasoline and hybrid vehicles use catalytic converters containing platinum-group metals, which could support automotive platinum demand in the U.S.

GEOPOLITICS:

• CHINESE PRESIDENT XI JINPING WILL VISIT THE U.S. ON SEPTEMBER 23–25 WITH TRUMP–XI MEETING  SCHEDULED FOR SEPTEMBER 24.  This is the Chinese president's first Washington visit in more than a decade. Talks are expected to cover trade, Taiwan, Iran, Russia, Ukraine and AI. A positive outcome could reduce trade uncertainty, support Chinese manufacturing and vehicle production, and strengthen platinum demand from auto catalysts and other industrial uses.

EVENTS:

• FRIDAY, OCTOBER 2 AT 13:30 GMT+1: U.S. NONFARM PAYROLLS (NFP) AND UNEMPLOYMENT RATE (SEPTEMBER). A weaker than expected report could reduce expectations for another Fed’s interest rate hike weighing on the U.S. dollar and supporting platinum prices.
• WEDNESDAY, SEPTEMBER 30 AT 02:30 GMT+1: CHINA MANUFACTURING PMI (SEPTEMBER). The Manufacturing PMI (Purchasing Managers’ Index) increased in August from 49.2 to 49.8, above expected 49.5.

TECHNICAL ANALYSIS:

• SUPPORT AREA: $1,500 - $1,700. The support area between $1,500 and $1,700 has been tested several times since October 2025, most recently in June and July 2026. Although this could indicate limited downside potential, a break below these levels could signal further price declines.
• UPTREND (June – September 2026): The daily chart below depicts an ongoing uptrend and an upward trend channel that has been in place since late June 2026. Overall, the platinum price rose from around $1,500 in late June to around $1,900 by early September 2026. However, the price could also decline.
• PLATINUM PRICE HIT AN ALL-TIME HIGH OF $2,920 (January 26, 2026). Platinum prices have recently traded around $1,790, and if a full recovery to the previous all-time high takes place, upside potential of around 63% could be seen. However, the price could also decline.

GRAPH (Daily):  August 2025 - September 2026                                                

Please note that past performance does not guarantee future results

Platinum, September 23, 2026
Current Price: 1,790

Example of calculation based on weekly market trend for 1.00 Lot¹

1. The above calculations are made based on 1.00 lot which is equivalent of 100 units
2. Calculations for exchange rate used as of 11:10 (GMT+1) 23/09/2026

You can use risk management tools such as Stop-Loss and Take-Profit