WPIC Platinum Quarterly

Still waters run deep. While gold enjoys a rapid rally, platinum remains in the shadows. For most of the past year, XPTUSD prices have stayed within a trading range of $900–1,050 per ounce. However, a gradual cooling of investor interest in the leading precious metal and major economic shifts in Europe could work wonders. According to the World Platinum Investment Council (WPIC), the metal’s shortage in 2025 will reach 848,000 ounces, higher than the previously expected 539,000. This marks the third consecutive year of demand ...

Investors should expect to see significant and entrenched structural supply deficits in the platinum market for the foreseeable future as recycling and mine production cannot keep up with solid consumption, according to the latest report from the World Platinum Investment Council. The platinum market is expected to see a supply deficit of 848,000 ounces this year, compared to last year’s deficit of nearly one million ounces, the WPIC said on Wednesday in its quarterly and 2024 year-end demand trends report. This is the third year the ...

The platinum market recorded a deficit of 995 000 oz for full year 2024, which is 46% higher than previously forecast, as total demand exceeded eight-million ounces for the first time since 2019 compared with supply at 7 293 000 oz. Investment demand rose by a whopping 77% year-on-year to 702 000 oz amid above-ground stocks sinking down to below four months of reliability. Investment demand propellers were exchange trade funds (ETF), final-quarter exchange stock inflows, and the supplier of legal tender coins in China launching a 1 ...

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 ...