Since the beginning of this year, platinum group metal, a popular precious metal, has risen rapidly and its price has increased dramatically, becoming the leader of investment varieties.

 Platinum group metals include rhodium, palladium, platinum, etc.

 Data shows that rhodium's offer on February 6 was 2822.5 yuan / g, up 78% from 1581.5 yuan / g at the beginning of this year, a record high since 2007.

 Palladium was quoted at 638 yuan / G on February 6, up 29% from 494 yuan / g at the beginning of this year, a new high since 2007.

 On the same day, the average price of 99 gold was 350.9 yuan / g, only about 12% of rhodium price and 55% of palladium price.

Platinum performed slightly worse. According to wind data, platinum's quotation on February 6 was 228 yuan / g, basically the same as 227 yuan / g at the beginning of the year. From the trend of the past year, the price of platinum fluctuated greatly, but the rising trend was clear.

 Necessary for automobile industry

 Platinum group metals are very important to automobile industry. In practical application, rhodium, palladium and platinum are all used in the field of automobile exhaust purification catalyst, which convert harmful gases (such as carbon monoxide) in automobile exhaust into harmless substances. Forbes data shows that more than 80% of rhodium is used to produce automotive exhaust catalytic converters.

In an interview with Shanghai Stock Exchange, Li Gangfeng, senior analyst of GFMS precious metals at Luft, said that the global demand for reducing carbon emissions from automobiles is becoming higher and higher. Palladium and rhodium are used as catalysts for automobile exhaust purification. The higher the content of these precious metals is, the less harmful gases will be discharged. "The average palladium content and rhodium content of each vehicle increased by 80% and 30% respectively after the" China 6 standard "was issued."

"In recent years, China's PTA, coal to glycol and other chemical production capacity are centralized, and palladium is also needed as catalyst, which will also increase the market demand for palladium." Xue Na, precious metals analyst at Nanhua futures, told the Shanghai Stock Exchange.

 Another reason for the increase in the price of PGMS is the strong expectation of tight supply.

 According to the report translated by the world platinum Investment Association, the supply of rhodium, palladium and other metals mainly comes from South Africa, while the power supply in South Africa is unstable, which often leads to the failure of safe mining in deep mines due to grid failure, thus affecting the production of mine metals.

 The high concentration and uncertainty of supply enables the price of PGMS to soar in the short term. According to the economist, in 2008, South African mining areas experienced blackouts and supply interruptions, which pushed the price of rhodium up more than $10000 / ounce.