Once these were resolved and market liquidity improved, the price began to fall again. Last year, the price had reached an extraordinary record high as processing problems in South Africa, which provides about 80 percent of the world's iridium supply, limited metal availability. Heraeus experts see a price range for ruthenium between $250 and $600 per troy ounce.Ī larger supply should calm the iridium market. At the same time, additional stockpiles are being processed in South Africa, which can cover the growth in demand. Supply is expected to increase by about two percent as production problems in Russia and disruptions due to maintenance work in South Africa have been overcome. The metal, which is used primarily in the electronics industry, is expected to show a surplus this year. The rhodium price is expected to return to a high range of between $7500 and $22,000 per troy ounce in 2022.įor ruthenium, the return to lower price levels is likely to continue. Supply risks could arise from insufficient recycling volumes or from strike risks, as the three largest South African PGM mining companies are facing wage negotiations with the mining unions this year. Even small shifts in supply or demand can strongly influence the price. Rhodium, which is also very dependent on demand from the automotive industry, could be characterized by high price fluctuations. Heraeus puts the range at $1400 to $2250 per troy ounce. However, industrial demand (outside the automotive sector) is expected to fall by six percent this year, cushioning the price pressure from high demand from the automotive industry. The industry is the strongest consumer, accounting for around 90 percent - palladium is used in exhaust catalytic converters for gasoline engines. Palladium demand in the automotive industry is expected to reach a record 8.5 million ounces this year. Heraeus expects a minimal supply surplus. Supply will also recover here after the disruptions. The palladium market will settle at a lower level after a historic high price last year. According to Heraeus, the range is between $850 and $1300 per troy ounce. The broad industrial use of platinum and its partial substitution in the automotive industry will make the metal more interesting again in the long term. However, a high inflation rate could make tangible assets such as platinum attractive to investors again. Platinum, which is used primarily in diesel exhaust catalytic converters, is still favorably valued compared to gold and palladium. Without renewed buying interest from investors, it is difficult to imagine a price increase, according to precious metals experts at Heraeus. When the price declined last year, ETF investments fell. The industrial platinum market (excluding investment) remains significantly oversupplied. This should allow a gradual return to normalcy. In addition, the new covid variants appear to be less dangerous. After all, vaccines are widely available. However, the impact should begin to fade. Platinum group metals are still stabilizing after last year's supply and demand side shocks from, for example, mine flooding in Russia, plant maintenance in South Africa, and lower automotive production from chip shortages. Heraeus expects a range between 20 and 32 dollars per troy ounce. If inflation and the weak dollar do indeed support the gold price, silver should outperform gold in these waters. Mine production, on the other hand, is expected to fall in 2022. In terms of demand for silver jewelry and silverware, Heraeus expects a return to pre-pandemic levels. At the same time, silver demand from electronics will benefit this year from an increase in global smartphone sales, as well as from the continued rollout of 5G and the falling cost of 5G devices. Double-digit growth in the installation of photovoltaic systems is forecast for 2022. Heraeus expects industrial demand for silver to grow. Gold marked its previous record high in August 2020 at around 2072 dollars. The Heraeus experts see a range of 1700 to 2120 dollars per fine ounce of gold. In addition, a weaker dollar should support prices. "Gold remains a safe haven and an insurance against geopolitical risks, and the risk of persistently high inflation is also positive for gold," said André Christl, CEO of Heraeus Precious Metals, at the presentation of the annual precious metals forecast. The price of gold could reach a record high in the new year, according to Heraeus Precious Metals, the world's largest precious metals service provider.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |