Why is Platinum commodity?

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Why is Platinum commodity?
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• Platinum commodity is the with the chemical
  symbol Pt and an atomic number of 78 on the
  periodic table. Its name is derived from the
  Spanish term platina del Pinto, which is
  literally translated into little silver of the
  Pinto River. It is a dense, malleable, ductile,
  precious, gray-white transition metal. It is one
  of the rarest elements in the Earths crust and
  also its least reactive metal. Platinum occurs
  in some nickel and copper ores along with some
  native deposits, mostly in South Africa, which
  accounts for 80 of the world production.
• Platinum commodity is a rare chemical element
  found in the Earths crust. The grayish-white
  metal is one of the most intriguing commodities
  because its user base defies simple
  categorization. Business sectors such as the
  automotive industry demand platinum for use in
  catalytic converters, while traders covet the
  metal as a financial asset and store of value.

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• The list of uses for platinum makes its
  comparison to gold seem obvious. However, by some
  measurements, platinum is even rarer than gold.
  Miners extract only about 130 million tons of
  platinum from the ground annually compared to
  more than 1,700 tons of gold. Platinum mining is
  also far less efficient than gold mining. The
  process of extracting the metal from ores can
  take five to seven months and may require ten
  tons of ore to yield one ounce of platinum. The
  cost of mining an ounce of platinum is nearly
  twice that of mining an ounce of gold.
• Platinum commodity is a dense metal that is also
  malleable and ductile. It is extracted from ore
  bodies in mines that contain the platinum group
  elements (PGMs). These elements platinum,
  iridium, osmium, palladium, rhodium and ruthenium
  all have similar chemical, physical and
  anatomical properties.

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• Miners generally extract platinum from placer
  deposits, which are naturally occurring
  concentrations of heavy minerals. These deposits
  accumulate as a result of the effects of gravity
  on moving particles. Platinum miners also extract
  the metal from sperrylite and cooperate, which
  are ores that contain platinum. Recycling scrap
  metal also provides a portion of the metals
  annual supply.
• Platinum commodity takes place on both the New
  York Mercantile Exchange (NYMEX) and Exchange
  (TOCOM). In contrary to many other metals,
  Platinum is thus not available on the London
  Metal Exchange (LME).

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• A benchmark price for this metal is set twice a
  day in London, called the London Platinum
  Quotation. This price is set by the London
  Platinum and Palladium Market (LPPM), which bases
  its price on the direct trading activities on
  their platform.

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