Platinum Group Metals — A Complete Market Guide (2026)

Sun, 30 Aug 2026 10:00:00 +0200

Data as of 6 July 2026. Prices are quoted as multi-year and full-year averages, not a single day’s snapshot, so this report stays useful over time. Reserves, production splits, balances and historical series are estimates from agency data, rounded for clarity. This report is for information only and was prepared with AI assistance — see the disclaimer at the end.

The platinum group metals market is the strangest corner of commodities: six precious metals rarer than gold, mined at scale in exactly two places on Earth, and consumed mostly by a single technology — the catalytic converter — whose days are numbered. That collision of scarcity and obsolescence makes the platinum group metals market the great cycle machine of the precious complex: palladium delivered a six-year supercycle and then lost two-thirds of its value; rhodium went from $700 to nearly $30,000 an ounce and back; and platinum, after a decade in the wilderness, staged 2025’s most spectacular commodity rally — four consecutive supply deficits driving it to all-time highs. This report is the free, big-picture primer on how the PGM market actually works — the six metals and their baskets, the South African-Russian duopoly, the autocatalyst engine and its electric twilight, and what actually drives returns. For the company-level data behind the charts — every producer screened by production, resources and cost — go to Metal Pilot.

PGM on Metal Pilot Blog

Platinum Group Metals — A Complete Market Guide (2026)