Tharisa reports on PGM and chrome markets for Q3 FY2024

PGM prices for the quarter were at slightly higher levels than in the previous quarter supporting the market view that the ‘bottom of the market’ has passed.

Prices, however, continue to be influenced and rangebound by continued inventory de-stocking, the pace of which is dependent on economic activity, which has not reached previous heights yet.

The narrative for PGM’s is changing with the realisation that the internal combustion engine will remain around much longer, with hybrid drivetrains the natural progression in the longer term.

Chrome prices have continued to trend upwards on strong fundamental demand for product coupled with port inventories at the lower end, supporting prices. Logistics remain complex but manageable.