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This year, automotive demand for platinum is set to reach its highest level since 2017
A platinum deficit of over one million ounces is now forecast for 2023. Strong automotive demand growth is a key factor behind the widening deficit, in addition to industrial demand growth to record levels, and flat supply. Platinum automotive demand is expected to reach 3,283 koz in 2023, up 13 per cent on 2022, the highest level since 2017. While automotive demand for platinum continues to be driven primarily by platinum-for-palladium substitution, which is forecast to reach 615 koz in 2023, and higher loadings, it has received a boost from higher-than-expected growth in vehicle production during the second quarter ... (full story)
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- Posted: Sep 22, 2023 7:54am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 185
