This mid-autumn surge in Russian platinum exports marked a 2.3-fold increase from September and a 2.1-fold rise from the previous year. The $203 million in exports represents the largest total since October 2022, when shipments amounted to $253 million.
In October, Russian companies accounted for 31.5% of US platinum imports, marking the highest share since April 2020.
As a result, Russia was the second-largest supplier of platinum to the United States, second only to South Africa ($270 million). The top five exporters also included Germany ($51.5 million), Italy ($25.2) and Belgium ($22.3).
Meanwhile, the value of Russian platinum shipments in the 10 months of the current year fell by a fifth, to $862 million.