2. Silver:
Silver showed significant growth, increasing by 6% over the week and approaching the gold to silver ratio of 79:1. The growth is due to the steady demand for silver in the photovoltaic industry and high production by leading companies.
3. Platinum:
Platinum is undergoing a structural restructuring of the Chinese market after the abolition of VAT exemption on imports. Trading volume on the Shanghai Stock Exchange has fallen, but internal hedging capabilities are expected to strengthen and pricing will improve.
4. Palladium:
The growth in sales of electric vehicles reduces the demand for palladium autocatalysts. In China, the share of electrified models has reached 50% of total car sales, reducing the need for palladium.
5. Platinum Group Metals (PGMs):
Manufacturers are facing a shortage of supplies of solid-state drives (SSDs) and hard drives (HDDs), which increases the demand for ruthenium. Prices for small volumes of PGMs remain stable.
