It is a quiet Monday for confirmed PGM news, with no major new development breaking in the past 48 hours. The clearest verified thread is a continued slide in Sibanye-Stillwater's share price, set against a rhodium market that analysts still expect to move toward surplus by 2027.
Top stories#
Sibanye-Stillwater's share price keeps falling#
Sibanye-Stillwater's Johannesburg-listed shares (JSE:SSW) were down 14.16% over the past month and 7.1% over the past seven days as of 28 September 2026, according to Simply Wall St, which tracks the stock's ex-dividend date of 16 September 2026, a R2.01-per-share payout with a 21 September payment date, and a current market capitalization of about R122.2 billion. Sibanye-Stillwater, formed in part through its 2017 acquisition of the Stillwater Mining Company in Montana, is one of the larger PGM and gold producers tracked by DailyPlatinum; see our production profile at Sibanye-Stillwater: PGM Production, Mines and Output.
Rhodium's surplus outlook remains the backdrop#
DailyPlatinum covered TD Cowen's rhodium surplus forecast in detail in Friday's report. As a one-line update: TD Cowen, cited by Mining.com on 25 September 2026, still expects weakening auto demand could tip rhodium into surplus by 2027, though scarce inventories leave prices vulnerable to spikes. There is no new development on this story today.
Prices and market context#
Current platinum and palladium prices, with bid, ask and change, are on our platinum price today and palladium price today pages. For balance-sheet context, the World Platinum Investment Council's Platinum Quarterly, published 9 September 2026, put the 2026 platinum market at a projected 265 koz surplus, a swing from the 297 koz deficit forecast in its Q1 2026 edition, revised the 2025 deficit to more than 1 million ounces, and estimated above-ground stocks at roughly 3.4 months of demand by the end of 2026. Platinum's all-time high remains $2,923/oz, set on 26 January 2026, according to WPIC. More background is available at Platinum Group Metals Market: Supply, Demand, Deficit and Outlook.
What to watch#
- Confirmation or denial from Sibanye-Stillwater of the reported U.S. strike notice and Kwezi shaft restructuring talks.
- Sibanye-Stillwater's second-half 2026 results, which the company has said it will report on 25 February 2027, per Simply Wall St.
- Any refinement by WPIC or Metals Focus of the 265 koz 2026 platinum surplus forecast set out in the 9 September 2026 Platinum Quarterly.
Sources: Simply Wall St (simplywall.st), Mining.com (mining.com)