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Platinum
The JSE has introduced the SAFEX listing of a Platinum futures contract which is quoted in Rand and linked to NYMEX listed product. The listing programme will ensure that there are always two expires available for trade. The contract months to be listed are January, April, July and October.
Quite in contrast to the diverse uses for the metal, there are very few countries with significant supplies. South Africa is responsible for a large percentage of total reserves followed by significantly smaller reserves in the USA and Russia. This supply concentration leads to inherent volatility in the price attracting some investors and putting others off.
Platinum is the primary metal in the 6 metal PGM group which otherwise comprises of palladium, ruthenium, rhodium, osmium and iridium. All of these metals possess unique physical and chemical properties which make them vital in various industrial uses. These uses include automotive, chemical, petroleum applications as well as a significant Jewellery demand.
The SAFEX listed contract price is calculated using the USD price together with the ZAR forward points which translate into a ZAR per ounce price.
One contract is equivalent to 10 troy ounces with the price reflecting the price per ounce.
The JSE Fact sheet is available HERE
What commodity futures are available?
The commodities available for trade are:
Contact a broker for the flexibility and convenience of having a skilled broker trade commodity futures on your behalf.
