U.S. platinum imports from Russia rise to highest level in six months

Over the past six months, the United States has significantly increased its imports of platinum from Russia to reach their highest levels since October 2024. According to reports from RIA Novosti, in April, U.S. purchases of Russian platinum rose to a peak of $115.6 million, marking an increase of one-third compared to the previous month and nearly a quarter on an annual basis.

As a result, Russia has now become the second-largest supplier of platinum to the United States, climbing one position in the rankings. Belgium, which held this spot at the beginning of spring, experienced an elevenfold drop in shipments in April due to decreased supplies and fell out of the top five exporters, now ranking sixth among the largest sources of platinum exports to the U.S.

South Africa remains the leading supplier, although its exports decreased by 25% month-over-month and by 20% year-over-year, totaling $270.8 million. Germany now ranks third, with exports declining by 20% over the month to $66.4 million.

Following his return to the White House, U.S. President Donald Trump has intensified the nation’s trade policies: imposing tariffs on imports from Mexico and Canada, raising duties on Chinese goods, and announcing tariffs on steel, aluminum, and automobiles. The culmination was announced on April 2, when a 10% baseline tariff on imports was introduced, along with reciprocal tariffs on several countries. However, just a week later, the United States paused these tariffs for 90 days.