Platinum Futures Market
and Contract
Platinum is the principal metal of the six-metal group
that bears its name; the other platinum group metals are
palladium, rhodium, ruthenium, osmium, and iridium. All
possess unique chemical and physical qualities that make
them vital industrial materials.
Jewelry creates the largest demand for platinum,
accounting for 51%. Automotive catalysts take 29% and
chemical and petroleum refining catalysts, 13%.
Platinum is used in the computer industry and in other
high-tech electronic applications since it is an excellent
conductor of electricity, does not corrode, and has a low
reactivity with other metals. This sector accounts for
about 7% of consumption.
Platinum is among the world's scarcest metals; new mine
production totals approximately only 5 million troy ounces
a year. In contrast, gold mine production runs
approximately 82 million ounces a year, and silver
production is approximately 547 million
| Platinum Futures Info: |
Platinum Futures Charts, Quotes, Options |
| Trading Unit |
50 troy ounces. |
| Trading Hours: |
Open outcry trading is conducted
from 8:20 AM to 1:05 PM. |
| Price Quotation |
U.S. dollars and cents per troy
ounce. |
| Trading Months: |
Trading is conducted over 15 months,
beginning with the current month and the next two
consecutive months before moving into the quarterly
cycle of January, April, July, and October. |
| Ticker Symbol: |
PL |
| Minimum Fluctuation: |
$0.10 (10¢) per troy ounce ($5.00
per contract). |
|
Margin Requirements: |
Margins are required for open futures positions.
|
| Last Trading Day: |
Trading terminates at the close of
business on the third business day prior to the end
of the delivery month. |
| Daily Limit on Price Movement: |
There is no maximum daily limit
during the current delivery month, the closest cycle
month, and any months preceding it. In other months,
the daily limit is $50.00 per ounce ($2,500 per
contract). If the price in any of the back months
settles at the limit for two consecutive days,
limits will be expanded to $75.00 per ounce ($3,750
per contract) and, if the market settles at that
limit for two consecutive days, prices will be
expanded to the maximum daily limit of $100.00 per
ounce ($5,000 per contract) on the following day. |
| Position Limits: |
Any one month/all months: 1,500 net
futures, but not to exceed 200 contracts from the
beginning of the business day prior to the first
notice day for any delivery month. |
These contract specifications are subject to change.
Content Provided by NYMEX.
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Other Futures Contract Specs
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