Platinum

Catalyst in PEM electrolysers and fuel cells. Its cost is one of the reasons green hydrogen is still expensive per kilogram.

Last close: 2026-09-11

Traded commodity

1,792

USD / troy oz

1 day: −6.42%
1 month: +2.62%
1 year: +28.62%

52-week range 1,373 – 2,852 · last close 2026-09-11

Our analysis of platinum

Written by Wingzman, with the reporting each piece draws on cited in full.

Palladium Just Went into Surplus. That Is the Combustion Engine Shrinking.
Platinum is in a fourth straight deficit and palladium has swung to a surplus of about 214,000 ounces. Neither metal is in a battery — but palladium is the cleanest commodity read on electrification there is.
11 September 2026 · 5 min read · 3 sources

Background reading

Evergreen explanation rather than dated reporting — how this input is used, and what decides what it costs you.

CNG, LPG, Ethanol and Hydrogen: What They Are and Where They Come From
Explainer · 12 min read

Elsewhere in the press

Reporting from the trade and financial press. Links go to the publisher; we did not write these.

Platinum shines brightest in bullish 2026 PGM outlook — Metals Focus
Kitco News · 18 May 2026
Johnson Matthey publishes 2026 PGM Market Report
Johnson Matthey
Platinum Poised for Structural Deficit Lift, Palladium Struggles with Surplus Risk
NAI 500

Headlines reviewed 2026-09-11.