2027 Agenda

One basket, different fortunes: What is really driving the PGMs market?

Platinum is forecast to remain in deficit, while palladium and rhodium could move towards small surpluses.  Automotive demand is changing as electrification reshapes the long-term outlook for PGM-dependent autocatalysts, while industrial applications are creating new sources of demand. This panel separates the individual outlooks for platinum, palladium, rhodium and the minor PGMs, examining what is driving prices, where forecasts diverge and what the changing balance means for producers and investors.

The big questions

• Should investors still think about PGMs as a basket?
• Which metal presents the strongest investment opportunity and which faces the greatest investment risk?
• What does the changing basket economics mean for African mine investment and operating decisions?