LONDON, Feb 10 (Reuters) - Platinum, palladium and rhodium
used by the auto industry to filter emissions from engine
exhausts were all in short supply last year, data from
specialist materials firm Johnson Matthey showed on
Wednesday, as prices for the metals soared.
Supply shortfalls have driven rapid price gains, with
platinum trading at six-year highs and rhodium RHOD-LON
and palladium close to record levels.
A shortfall is expected for palladium and rhodium this year
as well, the third consecutive annual deficit for rhodium and
the tenth for palladium, Johnson Matthey researcher Rupen
Raithatha said.
Platinum may see a third consecutive annual deficit in 2021,
depending on how much metal is stockpiled by investors, he said.
All three metals are used in catalytic converters to reduce
harmful emissions, and tightening environmental regulation is
forcing auto makers to put more into each vehicle. Platinum is
also in demand by other industies, for jewellery and as an
investment.
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