-
Platinum market heading for biggest surplus in years, WPIC says
The World Platinum Investment Council (WPIC) said on Wednesday the global platinum market would see a much larger surplus this year than it previously forecast and another big oversupply in 2022. Platinum is used by automakers to neutralise harmful engine emissions and by jewellers, industries such as glassmakers and for investment. Surpluses imply lower prices and deficits higher prices. The WPIC, which was set up by platinum mining companies and uses data from consultants Metals Focus and SFA (Oxford), said the roughly 8 million tonne a year platinum market would be oversupplied by 769,000 ounces this year -- the ... (full story)