This site's platinum group metal prices come from four kinds of source: a regulated benchmark auction, exchange-traded futures, producer and refiner quotes, and dealer over-the-counter spot quotes, each named directly on the page where it appears. Every price DailyPlatinum publishes carries the metal, its value and unit, the basis, the date and the named source, under DailyPlatinum's methodology, so a reader can trace a number back to where it came from.
How This Site Prices the Platinum Group Metals#
Platinum and palladium have a regulated benchmark and an exchange; rhodium, iridium, ruthenium and osmium do not, so each metal's price page on this site states a different source. The table below shows which of five source types exists for each of the six platinum group metals, drawn from the exchange record and from Johnson Matthey's, Umicore's and Heraeus's own quote pages.
| Metal | Benchmark auction | Exchange futures | JM base price | Umicore quote | Heraeus quote |
|---|---|---|---|---|---|
| Platinum | Yes | Yes | Yes | Yes | Yes |
| Palladium | Yes | Yes | Yes | Yes | Yes |
| Rhodium | No | No | Yes | Yes | Yes |
| Iridium | No | No | Yes | Yes | Yes |
| Ruthenium | No | No | Yes | Yes | Yes |
| Osmium | No | No | No | No | No |
Johnson Matthey's Base Prices, Umicore's quotes and Heraeus's price series cover five of the six platinum group metals; osmium sits outside all three.
Live platinum group metal prices today, for all six metals side by side, sit on platinum group metal prices today, and what is the spot price of platinum, the term this page uses most often, is explained in full on what is the spot price of platinum.
The LBMA Platinum and Palladium Price: The Benchmark#
The LBMA Platinum Price and LBMA Palladium Price are the global benchmark prices for unallocated platinum and palladium delivered in London, quoted in US dollars per troy ounce and administered by ICE Benchmark Administration (IBA) since 1 July 2026, after the London Metal Exchange administered them from December 2014 to 30 June 2026. IBA publishes four benchmarks each business day, an AM and a PM print for each metal, auctioned from 09:45 and 14:00 London time for platinum, with the palladium auction starting immediately once the platinum auction concludes. Settlement runs T+2, on days that count as a business day in both the UK and the US, against spot deferred, unallocated loco London metal; the term is defined on spot deferred. IBA is authorized and regulated by the UK Financial Conduct Authority to administer the benchmark and is recognized by the European Securities and Markets Authority as a third-country administrator; it takes no discretion in the outcome, since the sole input to the Final Price is the auction itself.
The Auction Rounds#
The LBMA Platinum Price auction runs through six defined steps, from a 30-minute order queue to a published Final Price, listed below.
- Queue orders in Round Zero, the 30 minutes before the 09:45 or 14:00 London start.
- Publish a round price, set by an algorithm that weighs market conditions and auction activity.
- Enter, amend or cancel orders in whole troy ounces, from a 1 troy oz minimum, for 60 seconds.
- Freeze order entry and test the imbalance between buying and selling interest against a 4,000 ounce threshold.
- Adjust the price and run a new round while the imbalance still exceeds that threshold.
- Publish the Final Price once the imbalance clears, in steps of at least USD 0.05.
Because the Final Price comes from whichever round clears the imbalance, the benchmark has no fixed publication time: it is auctioned from 09:45, never set at 09:45. Imbalance handling, holiday dates and the error-correction window sit on the dedicated LBMA platinum price page.
NYMEX Platinum and Palladium Futures: The Exchange#
NYMEX platinum and palladium futures are exchange-traded contracts settled on CME Group's New York Mercantile Exchange, quoted in US dollars per troy ounce and distinct from the LBMA benchmark auction above. The platinum contract covers 50 troy ounces per lot; the palladium contract covers 100 troy ounces, and the two trade on different quarterly cycles. No futures or options contract on rhodium, iridium, ruthenium or osmium is listed anywhere: none appears in the CFTC's Commitments of Traders report, and none is covered by the LBMA benchmark family or the London Platinum and Palladium Market. Only platinum and palladium have a clearing house, an exchange stock report and a settlement price; every rhodium, iridium, ruthenium and osmium number instead comes from a producer or refiner quote, covered next.
Contract specifications sit on platinum futures and palladium futures; NYMEX itself, the exchange CME Group now owns, is defined on NYMEX definition.
Rhodium, Iridium and Ruthenium: Producer and Refiner Quotes#
Rhodium, iridium and ruthenium have no exchange and no benchmark auction: their most-cited prices are Johnson Matthey, Umicore and Heraeus quotes for metal in sponge or unfabricated form, not a cleared market price. Johnson Matthey's Base Prices cover platinum, palladium, rhodium, iridium and ruthenium, not osmium, reset four times each business day at 08:30 and 14:30 Hong Kong time, 09:00 London and 09:30 US Eastern, in US dollars per troy ounce of sponge. Umicore's Precious Metals Management quotes the same five metals daily in euros per gram, across six distinct price types, an opening, a purchase, an unfabricated and a fabricated sales price, and a fixing and post-fixing price, so a bare Umicore euro figure is never "the price" without naming the type. Heraeus publishes interactive charts for the same five metals plus a weekly market report.
| Metal | Quoting sources | Physical form | Update frequency |
|---|---|---|---|
| Rhodium | Johnson Matthey, Umicore, Heraeus | Sponge (JM); unfabricated and fabricated metal (Umicore) | JM 4 times daily; Umicore daily; Heraeus on business days |
| Iridium | Johnson Matthey, Umicore, Heraeus | Sponge (JM); unfabricated and fabricated metal (Umicore) | JM 4 times daily; Umicore daily; Heraeus on business days |
| Ruthenium | Johnson Matthey, Umicore, Heraeus | Sponge (JM); unfabricated and fabricated metal (Umicore) | JM 4 times daily; Umicore daily; Heraeus on business days |
The same three refiner-traders set every publicly cited rhodium, iridium and ruthenium price; none of the three metals has a fourth, independent source.
How these three numbers can differ on the same day is covered in full on how minor PGM prices are quoted.
Osmium: No Wholesale Quote Exists#
Osmium has no exchange, no benchmark and no wholesale refiner quote: the only regularly published price for the metal is a private institute's daily rate for crystallized, collector-grade osmium. Johnson Matthey, Umicore and Heraeus each quote platinum, palladium, rhodium, iridium and ruthenium and stop there; no LPPM Good Delivery bar list or sponge accreditation scheme exists for osmium either. A specialist institute publishes a daily price for crystallized osmium, a serialized, collector-grade product, and that figure is a retail and collector price, not a wholesale metal quote. Osmium therefore sits entirely outside the producer-and-refiner regime described above for rhodium, iridium and ruthenium, with no institution playing the Johnson Matthey role for it.
Assessment Agencies and Research Houses We Cite#
Five organizations publish platinum group metal research this site cites: the World Platinum Investment Council, Metals Focus, SFA (Oxford), Argus Media and Fastmarkets, each a forecaster or a price-reporting agency, never a regulated benchmark administrator. The World Platinum Investment Council is an industry-funded body that publishes the quarterly Platinum Quarterly, a supply and demand balance and forecast, not a price. Metals Focus and SFA (Oxford) are independent research consultancies that sell subscription forecasts and balances; Metals Focus separates rhodium into its own "Plus Rh" product, a sign of how much harder that metal is to model. Argus Media and Fastmarkets are price-reporting agencies, the only two here that publish an assessed price rather than a forecast: Argus operates under the IOSCO Principles for Oil Price Reporting Agencies with annual external audit, and Fastmarkets' benchmark arm was established in Helsinki in December 2020, under Finnish regulatory supervision.
| Organization | Publication type | Cadence |
|---|---|---|
| World Platinum Investment Council | Forecast and supply-demand balance | Quarterly (Platinum Quarterly) |
| Metals Focus | Forecast, subscription | Quarterly and annual PGM products, plus a ten-year forecast |
| SFA (Oxford) | Forecast, subscription | Biannual (PGM Market Report and Price Outlook to 2040) |
| Argus Media | Assessed price (price-reporting agency) | Not established for PGMs specifically in DailyPlatinum's sources |
| Fastmarkets | Assessed price (price-reporting agency) | Not established for PGMs specifically in DailyPlatinum's sources |
WPIC's, Johnson Matthey's and Metals Focus's named, dated reports are compared side by side on PGM market reports.
What "Live" Means on This Site#
Every live price on this site carries a timestamp, a named source and a "delayed" badge after 15 minutes without an update, so a value is never shown as more current than it is. DailyPlatinum's standing rule holds that any price it reproduces carries five elements, the metal, the value with currency and unit, the basis, the date and the named source. That rule matters most for rhodium, iridium, ruthenium and osmium: a widget number for one of those four that refreshes every 60 seconds is the vendor's last returned value, not a traded market price. Not every competing quote page meets that bar: Kitco's rhodium chart, checked in August 2026, showed a bid and an ask with no timestamp and no disclosed source.
Dealer premiums sit on top of every spot price here: buyers compare offers through platinum bullion dealers, tracked by product on platinum premiums over spot.
What May and May Not Be Republished#
Johnson Matthey's prices and the LBMA benchmark require permission or a license to redistribute; Umicore, Heraeus and WPIC data may be cited with attribution. Johnson Matthey states plainly that "any use of the Prices without the prior consent of Johnson Matthey Plc is prohibited," and disclaims accuracy and liability regardless of consent. ICE Benchmark Administration is stricter still: "a licence from IBA is required in order to obtain, use or redistribute real-time or historical benchmark data," and Umicore's own site carries a notice that LBMA fixing rates "can now only be obtained directly from the LBMA due to required licenses," a public instance of that rule being enforced. WPIC's Platinum Quarterly, by contrast, is the most permissively positioned dataset in the sector, distributed free with email registration, provided WPIC and Metals Focus are credited together.
| Source | Cost to view | Redistribution position | Practical rule |
|---|---|---|---|
| Johnson Matthey Base Prices | Free | "Any use of the Prices without the prior consent of Johnson Matthey Plc is prohibited" | Cite editorially with attribution; do not systematically reproduce |
| LBMA Platinum/Palladium Price (IBA) | Licensed | "A licence from IBA is required in order to obtain, use or redistribute real-time or historical benchmark data" | License required for real-time or historical data |
| Umicore PMM quotes | Free, CSV export | Published "of pure statistical nature," no explicit redistribution grant | Cite with attribution, date and the price type used |
| Heraeus price series | Free, limited export | Historical figures marked "for information only" | Cite with attribution and date; never present as live |
| WPIC Platinum Quarterly | Free, email registration | Publicly distributed for market development | Most freely citable dataset in the sector; credit WPIC and Metals Focus |
| Kitco quotes | Free | Source undisclosed on the page itself | Cite as a Kitco quote with timestamp, never as "the" price |
This site's own compiled pages may be cited with attribution under DailyPlatinum's editorial policy, which does not grant redistribution rights beyond normal citation.
Source Directory#
This site's own pages on each source type are listed below, from the benchmark to the dealer quote.
| Source type | This site's page |
|---|---|
| Spot price explainer | what is the spot price of platinum |
| Palladium futures | palladium futures |
| Minor PGM producer quotes | how minor PGM prices are quoted |
| Research and forecasts | PGM market reports |
DailyPlatinum's role as an independent compiler, not a dealer or a refiner, is set out on about DailyPlatinum.
Price Data Sources FAQ#
Where does dailyplatinum.com get its live platinum price?#
The live platinum price shown on /price/platinum/ names its source and timestamp directly on the widget, linked back to this page. That widget quotes an over-the-counter spot price from a market-data vendor, not the LBMA Platinum Price, since real-time LBMA data needs an IBA license this site does not hold.
Why do different sites show different platinum prices?#
Prices differ between sites because each one shows a different series at a different time: an LBMA auction print, a NYMEX settlement, a Johnson Matthey base price and a dealer's own bid-ask quote are four different numbers on the same day. A site that omits its series and timestamp has not told a reader which of those four numbers they are looking at.
Is the rhodium, iridium or ruthenium price a live market price?#
No: rhodium, iridium and ruthenium prices shown on this site are producer or refiner quotes, updated on that source's own schedule, not a continuously traded market price. Johnson Matthey resets these base prices four times a business day; Umicore and Heraeus update once each business day; none of the three has an exchange or a benchmark auction running in between.
Can I use dailyplatinum.com's prices in my own publication?#
Only with attribution and only where the original source allows it; Johnson Matthey's prices and the LBMA benchmark are not freely redistributable, and this site does not grant rights to its own compiled pages beyond normal citation.