South Africa's Platinum Exports Surge 13% Amid Middle East Conflict Risks
South African platinum exports climbed 13% in the first two months of 2026, with platinum, palladium and rhodium all rebounding to China and Europe. UBS warns that a prolonged Middle East war could raise diesel costs, squeeze mining margins and potentially curb future PGM supply, while automotive demand may shift toward electric vehicles.
South African platinum exports climbed 13% in the first two months of 2026, with platinum, palladium and rhodium all rebounding to China and Europe. UBS warns that a prolonged Middle East war could raise diesel costs, squeeze mining margins and potentially curb future PGM supply, while automotive demand may shift toward electric vehicles.
In the short to medium term, PT, PD and RH prices may rally on export momentum, but rising fuel costs and potential supply constraints could temper gains and add volatility. Traders should watch diesel price trends and conflict developments for supply risk.