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In this latest iteration of Platinum Quarterly, the WPIC dissects critical nuances shaping the platinum market.
The heightened deficit of 1,071 koz, equivalent to 13% of annual demand, represents a noteworthy 6% escalation, indicating persistent challenges in the supply landscape at 7,079 koz. Foreseeing a substantial 26% year-on-year surge in demand for 2023, predominantly fuelled by the automotive and industrial sectors, the report unfolds a narrative of strategic importance.
Peering into 2024, a sustained deficit of 353 koz (5% of demand) looms, navigating through intricate supply constraints and industry restructuring. Automotive demand is forecast to modestly reach 3,312 koz and investment demand is expected to be 82 koz, influenced by ETF disinvestment and Japanese bar and coin sellbacks.
For a deeper dive into the dynamics, explore the full report by the WPIC here.
