WPIC Platinum Quarterly

The global platinum market will be in a structural deficit for a third consecutive year in 2025 as mine supply remains constrained despite rising recycling and a 1% decline in demand, the World Platinum Investment Council said on Tuesday. The WPIC, whose members are major Western platinum producers, expects the global market to show a shortfall of 539,000 troy ounces of platinum next year compared with a revised estimated deficit of 682,000 ounces this year. “The market is facing the third year of pretty material deficit in 2025, ...

The platinum market saw robust growth for both supply and demand in the second quarter of 2024. Mine supply increased by 5% year-on-year to 1,570 koz in Q2 2024, largely driven by South Africa. The country benefitted from a marked year-on-year reduction in load curtailment and improved smelter availability during the quarter. This more than offset lower Russian and North American production stemming from planned smelter maintenance. Recycling increased by 1% year-on-year to 388 koz in Q2 2024. Although automotive recycling supply ...

The platinum market is expected to see its biggest annual deficit in at least a decade, but prices have so far been slow to react, according to an industry report. A sharp rise in holdings by exchange-traded funds and strong growth in Chinese demand for large bars is forecast to help create a shortfall of more than 1 million ounces in 2024, according to a quarterly report from the World Platinum Investment Council. That comes after a deficit of 731,000 ounces last year. “Even with deficits of this magnitude, the platinum price ...

I’ve written extensively about supply shortfalls in the silver market. Silver demand outstripped the supply of the metal for the third straight year in 2023. But silver isn’t the only metal facing market deficits. Analysts expect the platinum market to chart its largest shortfall in a decade in 2024. Platinum doesn’t get the same attention in investment circles as gold and silver, but the precious metal can serve a role in a broader wealth preservation and growth strategy. Investors comfortable with platinum's more speculative nature ...

Platinum was heading for another supply deficit this year calculated by the World Platinum Investment Council (WPIC) at 476,000 ounces. The metal recorded a 878,000 oz deficit in 2023, the WPIC said in March. Falling mine supply was the main reason for this year’s deficit forecast, largely owing to South Africa where supply was forecast to fall 2% following restructuring of lossmaking mines. Production stoppages due to maintenance and amid sanctioning of parts supplies would result in a 9% decline in Russian production this year. All ...

The World Platinum Investment Council - WPIC® - today publishes its Platinum Quarterly for the first quarter of 2024 and a revised full year 2024 forecast. Global platinum demand in the Q1'24 rose quarter on quarter to 1,994 koz, as an upswing in jewellery demand added to steady demand growth in the automotive sector. Meanwhile, total platinum supply fell to its second lowest level in our time series at 1,625 koz, as mining and recycling supply remain depressed. This resulted in a market deficit of 369 koz. For the full year, total ...

A global platinum deficit in 2024 will be deeper than previously expected as mines hit by low prices for palladium and rhodium cut supply, the World Platinum Investment Council (WPIC) said, adding there were risks mine supplies could fall even further. The 2024 deficit of 418,000 troy ounces will, however, be smaller than 2023's 878,000 ounces due to lower demand, the WPIC, whose members are major Western platinum producers, said in a quarterly report on Wednesday.It previously projected the 2024 shortage at 353,000 ounces. Demand ...

This edition of Platinum Quarterly presents platinum supply and demand developments for the third quarter of 2023, an updated outlook for 2023 and a first forecast for 2024. It also provides WPIC’s views on relevant issues and trends for investors considering exposure to platinum as an investment asset, plus an update on how our product partnerships continue to meet investors’ needs. The Platinum Quarterly data and commentary (starting on page 7) are prepared independently for WPIC by Metals Focus. Continuing on from a record ...