PL=F is trading 3% down at $2,027.80 following a sharp pullback from its recent spike above $2,180 as investors react to Johnson Matthey’s latest PGM Market Report.
- The report highlighted softer near-term demand and profit-taking after a strong multi-day rally, despite forecasting a supply deficit from South Africa and Russia by 2026.
- While broader risk sentiment remains cautious, the current decline is primarily driven by shifting platinum supply–demand expectations and technical cooling.