In 2026, the global platinum group metals (PGM) market saw major shifts across supply, demand and trade. Disruptions in South African mining and Russian exports increased supply uncertainty, while traditional automotive catalyst demand faced pressure from lower vehicle volumes and PGM loadings. At the same time, AI semiconductors, HBM memory, PEM water electrolysis and fuel cells created new growth opportunities for ruthenium, iridium and platinum. Changes in LBMA pricing and delivery arrangements and the growing role of Asian markets further reshaped global PGM trade. As recycling and supply security gain importance, spent automotive catalysts, fuel-cell components and electronic scrap are emerging as key sources of secondary PGM supply. Against this backdrop, the conference will review the major developments in global PGM supply, demand, prices, trade and recycling in 2026, and assess the evolving fundamentals and market outlook for platinum, palladium, rhodium, ruthenium and iridium in 2027, providing practical insights for industry and financial market participants.