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SA platinum supply to fall 2% in 2024, says WPIC
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 in all, total platinum supply is expected to remain flat at 7.1 million oz. An ... (full story)