Tighter Chinese emissions rules and higher sales will meanwhile raise the use of platinum in heavy duty vehicles by 50% this year alone, Johnson Matthey said.Over the longer term, a shift from gasoline and diesel will reduce demand for platinum to clean exhaust fumes.But an alternative to fossil fuels is hydrogen, and platinum is used in electrolysers to make hydrogen and fuel cells using it to power cars, trains and ships.Demand for platinum in fuel cell-powered vehicles could rise to 2-4 million ounces a year by 2030, Bank of America’s Widmer said.Investors are taking note, ramping up their bets on higher prices in U.S. futures markets and stockpiling bars in exchange traded funds. QUOTE Auto industry going through great change IMO
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)