Mining News

PGMs are being hammered by the chip shortage

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The shortage of semiconductors is clobbering the price of platinum-group metals as investors brace for a long-lasting hit to car production. Platinum and its sister metals palladium and rhodium – used in pollution-cutting catalytic converters – have all suffered sharp drops in recent weeks as carmakers shutter plants and trim output guidance. The price slump is a big contrast with the booming performance earlier in the pandemic, which was driven by supply shortages and hopes of a stimulus-led economic recovery.

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