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PGMs a key role in energy transition, demand remains uncertain
The PGM basket price dropped by 30% in 2023 due to oversupply and a global economic slowdown. However, the future of PGMs is not bleak, as they have a key role to play in the energy transition and are essential for new applications in various sectors. The uncertain state of the market for electric vehicles (EVs) has complicated the investment case for PGMs, which are used in catalytic converters fitted to internal combustion engine vehicles. This lack of clarity has clouded the outlook for PGMs, which in turn has depressed the basket price – the combined price of a selection of PGMs, typically platinum, palladium ... (full story)