Article

The rising price of platinum, essential for chemical synthesis catalysts, pressures firms like Wacker Chemie to raise product prices. Wacker increased silicone prices by over 25% on February 1 due to high commodity costs.

Platinum reached a peak of $91,176/kg on January 26, dropping to about $74,000/kg by February 4. This price volatility may require adjustments across the chemical industry. Meanwhile, efforts to replace platinum with less costly metals are increasing, particularly in fuel cells and water electrolysis.