Industrial growth - 11 January 2023
Industrial demand for platinum in 2023 is forecast to be the second strongest year on record
60 Seconds in Platinum
Few people are currently aware of the full range of interesting and highly beneficial things that platinum does. To address this, we publish our brief 60 Seconds in Platinum articles up to four times per month.
Please subscribe (free of charge) if you would like to receive them.
The need to decarbonise is more acute than ever and platinum-based proton exchange membrane (PEM) technologies will have a significant role to play in the energy transition. Platinum’s strategic and economic importance is underlined with the United Sates, European Union and China recognising its critical mineral status, while the US Inflation Reduction Act, passed in August, further supports platinum demand from PEM technologies by accelerating growth in green hydrogen production and fuel cell electric vehicle adoption. The urgent need for energy independence is also spurring on investment in hydrogen that is beneficial for platinum.
Bart Melek is TD Securities' Global Head of Commodity Strategy. With over 20 years of experience analysing global precious metals, base metals, energy, and financial markets, as well as North American and global economies, here Bart joins WPIC's CEO Trevor Raymond to discuss the relevance of precious metal investment, including platinum, in the current global market environment.