WPIC: Platinum Could Benefit from Diesel Turnaround

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Speaking with the Investing News Network (INN) at the Sprott Natural Resource Symposium in Vancouver, Raymond said that a slower than expected decline in market share for diesel vehicles in Europe is making a difference in demand dynamics. He explained that while the market had assumed the percentage of diesel cars on the road in Europe would continue to decline to as low as 25 or even 10 percent, something has changed. “It’s turned around slightly. The rate of decline is a lot slower, and we’ve seen a rise of diesel car sales in Germany. If that settles at 33 ... 34 percent rather than 25, each 4 percent is an extra 100,000 ounces of demand, so I think that’s been the main driver (of interest in platinum).” On the supply side for the precious metal, Raymond said that the margins of platinum producers in South Africa have been tight for some time.