Most heavily desired by the automobile industry and electronics industry, platinum s rarity makes it valuable. Being stockpiled by militaries worldwide and used in some coinage, has made it even more rare. To put the supply of Platinum in perspective, more than twice as much steel is poured each day in the US , than Platinum is mined in the world each year. Platinum futures trade also at the New York Mercantile Exchange in contracts of 50 Troy ounces or about 3.5 pounds. Copper and Palladium are the other main metal futures contracts.
Copper is an industrial metal, and is effected mainly by basic production and consumption concerns.
Traded also on the NY Merc in contracts of 25,000 pounds, copper does not enjoy the speculative open interest of Gold or Silver. Palladium is also an industrial metal most closely related to Platinum, it is known for wild price fluctuations, high margin, and low open interest. Futures and options ARE not suitable investments for all individuals, and individuals should carefully consider their financial condition in deciding whether to trade. Option traders should be aware that the exercise of a long option would result in a futures position.