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CHEM 2017 2008 lecture 9 + 10

CHEM 2017 2008 lecture 9 + 10. PLATINUM GROUP METALS GOLD. PGM prices fixed on London Metals Exchange Prices change daily Supply and demand balance determines price $ pricing. Supply and demand in close correspondence

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CHEM 2017 2008 lecture 9 + 10

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  1. CHEM 2017 2008lecture 9 + 10 PLATINUM GROUP METALS GOLD

  2. PGM prices fixed on London Metals Exchange • Prices change daily • Supply and demand balance determines price • $ pricing

  3. Supply and demand in close correspondence • Note for Au price fluctuations are much lower [industrial demand relatively low] • Any new demand for PGMs will cause large price increases • If price is too high users will seek alternative materials

  4. New demands – fuel cells [PGMs in the electrodes] • Increasing demand for autocatalysts • New mining operations – lead times of several years

  5. AUTOCATALYSTS • CO  CO2 Pd, Pt • HC  CO2 + H2O Pt, Pd • NO  N2 Rh

  6. In 2000 Ford Motor Co. switched to Pd only autocatalysts because Pt price was too high • Resulted in a very high price surge for Pd • Ford switched back to Pt+Pd catalysts • Pd price fell

  7. Rh relatively rare • Essential in autocatalysts for NO removal • Persistent high price

  8. Ru also relatively rare but demand limited • New uses found and price increases • Management of supply and demand in PGM business is critical

  9. Autocatalyst + industrial now outstripping jewellery demands • Good for prices [Jewellery fashion might change suddenly] • Case of gold?

  10. Gold more abundant than PGMs • Weak industrial demand historically • More marketing and technology research in last 7-8 years to help underpin price • New Au chemistry being developed

  11. PGMs

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