Platinum (Platinum), element symbol Pt, atomic number 78, is an extremely rare metal, the content in the earth's crust is only 1/30 of gold. Platinum is a representative of the platinum group metals, and its family, together with gold and silver, constitutes a large family of precious metals. At present, the international spot price of platinum fluctuates at USD 1,100/oz and RMB 230/g.
Pure platinum is a lustrous, malleable, silvery-white metal. It is the most malleable of all pure metals, surpassing gold, silver, and copper, but less malleable than gold. Platinum metal is extremely resistant to corrosion, very stable at high temperatures, and has stable electrical properties. It does not oxidize at any temperature, but is attacked by various halogens, cyanides, sulfur and caustic. These physical properties make platinum a metal widely used in industry. Platinum is also used in jewelry due to its ability to resist erosion and retain luster.
Like rhodium, platinum is also an important part of the three-way catalytic converter, which can convert harmful gases into less harmful gases. In previous years, the demand was 74 tons, accounting for 31% of the total demand. Due to the low price of platinum relative to palladium (less than 1/2), the increasing replacement of palladium with platinum in three-way catalytic converters for gasoline vehicles will increase platinum demand. In addition, the full implementation of China VI emission standards and India's new BS VI standards will also increase the platinum content of truck exhaust purification devices. Increased demand for tail gas cleaning platinum is expected to bring total global platinum demand back to 211.5t in 2021, only slightly lower than in 2019.
Platinum is widely and unexpectedly used in manufacturing and industry because of its unique catalytic effect, high melting point, ductility and corrosion resistance. For example, in a laptop computer, platinum not only forms part of the hard disk, but is also used to make the glass parts necessary for the laptop; key.
Due to platinum's durability and strength, it is the safest metal for setting gemstones in ring making. Many of the world's most legendary gemstones, including the Hope Diamond and the Tyler Borton Diamond, are set in platinum. Platinum is starting to gain popularity among jewelry buyers, especially in emerging countries such as India and China, a trend that will continue to drive future demand.
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