Platinum (Pt) is a metal element with an atomic number of 78 which is found in alluvial deposits, or it is produced as a byproduct in the process of refining copper and nickel. Its melting and boiling points measure around 1770° C and 3825° C, respectively. It is a highly malleable metal element for fine art pieces and jewelry. It also possesses excellent ductility, which is used in making thin wires and strings that are used in making precious items.
Platinum is a silvery-whitish metal that is completely unreactive in nature and is a very precious transition metal that is extensively used in making decorative and jewelry items on a large scale. It belongs to costly metal groups, including gold, silver, and gems like diamonds.
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The key importing countries that import Platinum are the United States, India, and Germany. On the other hand, the key exporting countries for the same are India, Germany, and China.
Key Details About the Platinum Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Platinum price in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as excel files that can be used offline.
The Platinum Price Graph, including India Platinum price, USA Platinum price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting Platinum Price Trend:
Platinum is one of the most expensive metal components that is extensively used in the jewelry manufacturing industry. Apart from that, the metal is also used in chemical preparation methods by the chemical industry. Platinum is used in the production of nitric acid and gasoline, as well as explosives.
Additionally, the agrochemical industry utilizes Platinum to manufacture fertilizer ingredients and is also used as a catalyst to remove harmful emissions from automobiles on a large scale. Platinum is an excellent conductor of heat and electricity. It is used in manufacturing electric circuits that are used extensively in electronic machines and electronics, such as semiconductor crystals, sensors, switch contacts, magnetic disks, and more. Platinum possesses anti-cancer property, which is used by the medical industry in devices like stents, implants, pacemakers, catheters, etc. It is also utilized for making fine art or showpieces, including necklaces, rings, plates, vases, etc.
Key Players:
- Johnson Matthey
- Acros Organics
- Anglo American Platinum Ltd
- Sibanye-Stillwater
- Norilsk Nickel Mining and Metallurgical Company
- Russian Platinum
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