Trusted advisors for end-users
SFA (Oxford) has delivered a number of PGM-related assignments to manufacturers and fabricators in the automotive and jewellery industries, including an assessment of the security of supply against new automotive technologies and product cycles, an evaluation of metal suitability for a major automotive catalyst fabricator, a review of the fuel cell industry, and electric vehicle studies which also provided an overview of the lithium market. In collaboration with a major platinum jewellery organisation, we have also produced an in-depth study of the world’s PGM jewellery pipeline and provided analysis and forecasts of the global autocatalyst and jewellery markets, including elasticity to metal prices.
We have also completed numerous bespoke powertrain-related assignments commissioned by a variety of companies, including mining companies, battery manufacturers and conglomerates, for investment cases and supply security against new automotive technologies and product cycles, and long-term market outlooks under varying scenarios for electric vehicle penetration.
A long-term sensitivity analysis of future automotive technology and its impact on the PGM market out to 2040 — commissioned by a client
Where and when the expansions and contractions in demand will take place for each metal
An analysis was carried out of the influence of future powertrains on platinum, palladium and rhodium demand out to 2040.
Technological and legislative developments — commissioned by a mining company
Industry watching brief
SFA (Oxford) undertook a watching brief on all technological and legislative developments affecting PGM demand in autocatalyst end-uses.
Security of supply — commissioned by a car manufacturer
Security of PGM supply against new automotive technologies and product cycles
The review considered a car company’s future drive towards new automotive technologies where sourcing the right platinum group metals mix to meet the new challenges arising from the need for more environmentally friendly vehicles is a key factor.
Insight into electric vehicle technology
Electric vehicle study, including batteries and lithium supply and demand
A major conglomerate selected SFA (Oxford) to provide an understanding of electric vehicle technology and associated battery developments, as well as an assessment of lithium supply and demand and of the market dynamics influencing long-term supply and demand.
Automotive catalyst end-uses — commissioned by a major mining corporation
Autocatalyst demand study
The team at SFA (Oxford) carried out an overview of automotive catalyst end-uses, including PGM requirements, industry trends, emissions legislation and metal substitution. We also produced historical autocatalyst PGM offtake data and forecast demand.
The impact of electric vehicles on future platinum and palladium demand — commissioned by a major conglomerate
Long-term market impact analysis out to 2040
The project also took account of country-by-country energy supplies, government policies and legislation, cities, and demographic considerations. In summary, using a range of electric vehicle sales growth scenarios to articulate the potential loss of PGM demand and market implications to the client.
A year-long study on the Chinese jewellery market
A full regional appraisal of platinum jewellery, including the value chain, players, metal movements, and influences on demand
A multi-faceted econometric model was developed to quantify platinum jewellery demand evolution now and in the future. The study involved on the ground interviews with jewellery industry players (fabricators, wholesalers and retailers). Demographic influences were also accounted for to ultimately plot platinum demand scenarios for tomorrow.
Lithium market intelligence
Security of lithium supply under varying outlooks for electric vehicle penetration
A major car manufacturer commissioned SFA to assess the long-term potential of the lithium market and product prices to assess new upstream investment opportunities.
Predictive jewellery modelling — commissioned by a client
A PGM jewellery demand study of jewellery elasticity to metal prices
SFA (Oxford) developed a robust, predictive model of platinum and palladium jewellery demand and price elasticities, helping to inform the company’s marketing activity with detailed forecasts of platinum and palladium demand and their sensitivities.
Jewellery marketing investment appraisal
Global investment appraisal
The SFA (Oxford) team provided insight on metal price demand elasticity, so as to illustrate the dynamics that impact manufacturers and retailers’ decisions regarding their platinum business.
The report highlighted the margins that apply in the jewellery pipeline from mine to the customer (retailer) to identify levels of marketing investment that can be achieved (net profit, net profit margin, and gross profit margin).
The pipeline was mapped by market, outlining the flow of platinum from importers and refiners through to consumers.
Strategic metals assessment to support tomorrow’s hydrogen economy — commissioned by a consortium of technological leaders
Hydrogen market assessment
SFA (Oxford) provided a detailed report and presentation to a consortium of fuel cell technology companies, major automakers, energy providers, technology companies, and manufacturers on the long-term supply security of platinum and iridium to support a budding hydrogen economy.
Lithium investment case on behalf for a major car manufacturer
Investment committee submission: independent report
Submitted a detailed report and lithium product price forecasts to the client to offer an independent evaluation of the impact of electric vehicles, electronics and industrial applications on lithium price projections. The report also provided project incentive pricing for hard rock mines and brine operations, and an appraisal of potential new project supply.
Identifying new demand opportunities for PGMs — commissioned by major PGM producers
Commercial evaluation of the fuel cell value chain
Analysis of fuel cells, with a specific focus on technological feasibility, commercial potential, legislative support and market drivers, ownership of IP/licensing as well as company supply chains and commercial arrangements.
Tomorrow’s hydrogen opportunity — commissioned by a client
Evaluation of the hydrogen economy
SFA (Oxford) provided an independent assessment of the hydrogen economy, fuel cell technologies, green hydrogen production economics, supply chains, and major players to help assess investment opportunities.
PGM customers in the hydrogen economy — commissioned by a client
New customer targets
SFA (Oxford) identified and evaluated key PGM customers in the hydrogen economy, a good long-term hedge for PGMs as autocatalyst use declines, and potentially secure demand for iridium and ruthenium.
Broad contextualisation of a Russian miner and its relation to the global mining sector
Corporate appraisal for future investment
A conglomerate approached SFA (Oxford) to provide a high-level geological overview, together with future production capacity, metal sales and key customers.
SFA offered insights into strategic opportunities and threats, and an assessment of the political and economic landscape.
Solutions for end-users
SFA offers a broad spectrum of services for end-users in PGMs, battery metals and materials, green hydrogen and fuel cells, applying our strategic focus and bespoke approach to meet your needs.
Working with clients and third parties, SFA has a long track record of providing technical due diligence and financial modelling support to help secure funding.
Clients have used SFA to provide the analytical link with banks and financial institutions to support PGM investment decision-making and provide market support.
With extensive experience covering the PGM markets and industry fundamentals, SFA can provide you with our latest market outlook and the window of scenarios.
SFA is a trusted advisor to Board members and senior management of significant stakeholders and provides regular assistance to strategy and planning efforts.
SFA can provide accurate short-, medium- and long-term PGM price forecasts to support your business plans and contract negotiations.
SFA provides regular data flows of mine supply and metallurgical pipelines, basket prices, mine economics, and PGM demand to assist strategic decision-making.
Clients approach SFA to run their own supply and macro modelling demand inputs to see the impact this has on the medium- to long-term PGM market balances.
SFA supports its clients on global roadshows to assist on capital raisings and converse with fund managers, institutional investors and family wealth officers.
The SFA team is constantly providing rich insights for its clients on structural events moving the PGM markets, particularly when the situation continues to change.
SFA works closely with value chain players to understand how materially significant ESG issues can be integrated into their wider company strategy.
SFA's benchmarking of PGM producers on material ESG factors generates high-resolution insights for sustainability-conscious investors.
SFA's analysis of environmental footprints from recycled material in terms of greenhouse gases, waste generation and processing is helping secure new investments.
For many years, SFA's extensive expertise in analysing the changing dynamics of global economies, financial markets and precious metals has enabled us to deliver bespoke research to enhance your next strategy.
SFA delivers detailed insights into the effects of new automotive technologies on PGM demand for light-duty, heavy-duty, off-road and fuel cell vehicles to meet government emission targets.
SFA has advised mobility companies with their strategies, providing global or local industry context, benchmarking competitors, creating industry scenarios and identifying new opportunities.
SFA has explored the purchasing dynamics between market participants, the complexity of the associated price web factors for platinum, palladium and rhodium, providing definitive answers to commercial questions.
SFA is constantly monitoring the evolution of emerging technologies and threats to new metal substitution. Let us cut through the noise, and highlight the short to long-term price risk impacts for your business.
SFA is equipped to provide detailed regional insights of the major players, market shares, demand volumes, and market value for automotive, chemical and petrochemical catalysts, and smaller industrial markets.
SFA analyses the physical movements of PGMs for demand-side and supply-side participants, how futures contracts are priced and traded, and quantifies above-ground PGM stocks from key sectors.
SFA has mapped jewellery pipelines, examined costs and margins, quantified future demand levels, and analysed the competitor landscape of fabricators, wholesalers, and retailers for future investment decision-making.
SFA can provide you with the most insightful 360-degree research covering the secret closed-loop market sectors by quantifying installed capacities, system losses and top-up requirements by company and sector.
SFA has significant experience mapping regional and localised end-use markets for PGMs to assist clients in discovering new trading opportunities and client targets by volume and sector.
SFA's discreet work with recyclers gives us unique market insights, for the major regions of the USA, Europe, China and Japan. We also closely monitor jewellery recycling, electronic scrap and spent catalysts.
SFA is a trusted advisor to boardrooms and senior management to major stakeholders and provides regular assistance to battery metals strategy and planning.
SFA provides accurate short- to long-term battery metal price forecasts to support your business plans and contract negotiations, backed by our extensive research.
SFA evaluates the long and complex life cycle analysis of battery metals and materials to improve the recycling opportunities available for market stakeholders.
SFA works closely with value chain players to understand how materially significant ESG issues can be integrated into their wider company strategy.
SFA's benchmarking of battery metal producers on material ESG factors generates high-resolution insights for sustainability-conscious investors.
SFA evaluates the strategic opportunities of other strategic battery materials such as manganese, vanadium, copper, graphite, silica, and rare earth elements.
SFA analyses the emergence of the new and competing cathode, anode and electrolyte technologies, market adoption and the fall-out this has on battery materials.
SFA delivers detailed insights into market risks of automotive technologies for light-duty, heavy-duty, off-road and fuel cell vehicles to meet emission targets.
SFA regularly supports clients on roadshows to assist on capital raisings and converse with fund managers, institutional investors and family wealth offices.
The SFA team is constantly providing rich insights for its clients on structural events moving the battery metals markets and battery technology substitution.
With charging infrastructure lagging behind EV sales, SFA is on hand to help determine which localised markets will support battery electric vehicles.
The rapid rise in electric vehicles means the recycling market needs to prepare for processing the growth in the supply of nickel, lithium and cobalt.
The pressure for renewable energy generation will require intermittent chemical energy storage solutions to support international climate change objectives.
SFA works with value chain players to navigate green hydrogen opportunities, energy solutions, market risks and emerging zero-carbon technologies.
SFA identifies investment and commercial opportunities for players across the hydrogen value chain, and where green hydrogen can be best utilised for investment.
SFA evaluates electrolyser and competing technology economics, growth opportunities and market risks for PGM based-technologies and thrifting.
SFA provides long-term precious metal supply security outlooks for platinum, iridium and ruthenium using detailed modelling of mine supply and recycling.
With SFA’s Hydrogen Mobility Watch, we can help you track the development of hydrogen fuel cell initiatives and infrastructure development projects underway.
SFA is closely following the green hydrogen water electrolyser and mobility players and projects underway across the industry, and national strategy developments.
SFA is developing its capabilities to benchmark individual green hydrogen projects to assess the long-term viability of industrial players becoming more competitive.
SFA assesses the main international legal frameworks for green hydrogen development, penalties and incentives, implications and end-use sector opportunities.
SFA is a trusted advisor to the Boards and senior management of major stakeholders and provides regular assistance to hydrogen strategy and planning efforts.
North America has an ambitious hydrogen roadmap, leveraging decades of scientific and engineering developments, particularly in California.
Europe is home to some of the most innovative technologies, ambitious decarbonisation targets and national strategies, and strongest value chain networks.
Market outlook reports for end-users
Released every three months, this price risk-focused report details-impacting factors for platinum, palladium and rhodium markets for the next three years.
This ground-breaking forward-looking report analyses the influences and trends on the PGM markets between 2022 and 2040.
SFA's new ground-breaking forward-looking report analyses the influences, market risks and trends on the PGM markets out to 2050.
Stay up-to-date with a quarterly 5-year forecast on ruthenium's technological developments and underlying evolution of supply, demand and end-use applications.
A comprehensive quarterly report on iridium market fundamentals and integration of future technologies for new and existing end-users.
A proprietary report unlocking the current and future demands for precious metals (Pt, Ir, and Ru) used in electrolysers and fuel cells for the hydrogen economy.
Our quarterly price risk-focused report details factors impacting the lithium, nickel and cobalt markets for the next five years and future battery technology trends.
The SFA team completes a deep dive into the short- to long-term opportunities enabling the success of electric vehicle production across supported regions.
Released four times a year, SFA's lithium price risk report details short- to medium-term factors impacting the lithium carbonate and lithium hydroxide markets.
Released annually, this ground-breaking, forward-looking report analyses the trends and influences on the lithium market and battery technologies out to 2040.
Released each quarter, SFA's nickel price risk-focused report details the factors impacting nickel sulphate demand, MHP and refined nickel for the next five years.
Released annually, this ground-breaking, forward-looking report analyses the trends and influences on the nickel market and battery technologies out to 2040.
Released each quarter, SFA's cobalt price risk-focused report details cobalt supply and demand impacting factors for the next five years.
Released annually, this ground-breaking, forward-looking report analyses the trends and influences on the cobalt market and battery technologies out to 2040.
Significant long-term opportunities exist along the value chain as more supportive legislation drives EV growth, with greater awareness of ESG pressures.
China has the largest electric vehicle market in the world, so how can China co-exist with the rest of the world in this sector?
Argentina, Bolivia and Chile have long been low-cost sources of lithium supply for electric vehicles but greater ESG scrutiny means new processes must be adopted.
With Australia's abundance of battery raw materials, long-term challenges exist to develop its beneficiation strategy towards battery-grade precursor products.