Platinum Outlook & Market Analysis - Sucden Financial > Metals Outlook > Market Insights

Expert platinum market insights

Our quarterly platinum outlook is published in our Quarterly Metals Report, which covers base, precious and ferrous metals. The impact of supply and demand fundamentals and macroeconomic implications for platinum is analysed. Our research team produce platinum price range forecasts as part of the report.

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Platinum Outlook – Q4 2024

Platinum prices are under pressure entering Q4 2024, held below $1,000/oz by weak automotive demand and limited ETF interest. Despite minor supply challenges from South Africa, low automotive production limits demand growth, keeping prices subdued, barring any significant market shifts.

Metals

As we enter Q4 2024, several trends from the previous quarter continue to persist. The central banks began their interest rate cutting cycles, with the Fed initiating a 50bps cut at its first meeting. The ECB is on a similar path, but it is facing strong pressures to cut due to the weakening performance of the Eurozone, which is creating a larger yield differential compared to the US. In China, authorities are aiming to stimulate the economy through fiscal and monetary policy measures; however, they are struggling to restore market confidence, particularly in the construction sector. These factors, combined with the upcoming US elections in November, create a strong likelihood of increased volatility. In this report, we will examine the potential trajectories for base, ferrous, and precious metals in the final months of the year.

Q4 2024