A study on the Forecasts of Supply and Demand of Platinum Group Metals

Abstract

Some 400 tons of platinum group metals (PGM) are yearly produced and used mainly for auto-catalyst, jewelries and electric appliances. The annual growth rate is currently more than 4%. Main resources for PGM exist predominantly in South Africa, Russia and North America, showing that they co-exist with Ni-Cu sulphide in the range of 5-10 ppm in their ores.
Meanwhile, technological developments for fuel cells are being promoted, in which PEMFC (proton exchange membrane fuel cell) should be used for vehicles and stationary power. The PEMFC needs platinum as a catalyst due to the lower reaction temperature. The imbalance between supply and demand of Pt should become one of critical paths for the PEMFC promotion, if Japanese Government target is realized.
This paper describes the forecast of supply & demand of Platinum based on various researches and investigations, and self-constructed model. Supply of platinum will be short in 2030's on schedule of the Japanese Government's scenario. Political countermeasure should be applied together with resources developments in order to secure the Pt resource.