Platinum
Rarer than gold, and far more industrial.
Platinum is not mainly a jewellery metal. It is an automotive, catalyst, and increasingly a hydrogen-economy metal, with jewellery as one demand stream among several. Supply is concentrated and constrained, which keeps it in recurring deficit.
What drives demand
Where it is mined
South Africa dominates, followed by Russia, Zimbabwe, Canada, and the United States. South Africa is the world's top platinum producer and a major palladium producer too.
Who mines it
Anglo American Platinum (Valterra Platinum), Impala Platinum, Sibanye Stillwater, Northam Platinum, Nornickel, African Rainbow Minerals, Tharisa, and Platinum Group Metals Ltd.
Platinum price, last 90 sessions
The outlook
Johnson Matthey expects platinum demand to exceed supply again in 2026, driven by industrial use and constrained mine output. For jewellers, that supply tension plus a price well below gold makes platinum a value-and-margin story.
What Lufroma tracks for Platinum
Spot, the platinum-to-gold spread, and supply-deficit context. Read the latest in the daily brief and reports.
See the intelligencePGM concentrates are analysed by XRF and ICP-MS for trace detection. Lufroma reports the market, not the assay.