Platinum futures slipped below $940 per ounce, hovering near the over-two-month low of $925 reached on November 26th, as the metal continued to underperform compared to other bullion assets this year.
Platinum futures slip on Wednesday
Slowing industrial demand outweighed the global trend of easing interest rates by major central banks. According to the World Platinum Investment Council (WPIC), weaker demand for internal combustion engines—where platinum is used in catalytic converters—has pressured prices throughout the year, driven by China’s slowing economy and a growing shift toward electric vehicles.
Downward pressure amount
This downward pressure overshadowed expectations of a continued market deficit in 2025, following a similar shortfall anticipated for 2024 due to declining refined production in key regions, including South Africa, Zimbabwe, Russia, and North America.
