Strong fundamentals support platinum and palladium prices

While supplies of platinum remained largely flat in 2010, gross demand increased strongly, with 43% growth in demand for platinum in autocatalysts. The picture was similar for palladium: supplies increased only modestly but total gross demand reached all time record highs of almost 10 million troy ounces (oz). Platinum traded on average 34% higher than in 2009 and reached record highs, and palladium doubled in price during the course of 2010, trading at levels not seen for a decade. Jonathan Butler, editor of Platinum 2011, explores the platinum and palladium markets in what was an extraordinary year.