A leading refinery in the Metal Market of the Platinum Group based in London published yesterday its new forecasts on the supply and demand of metals of the platinum group, says CommerzBank raw material analyst, Carsten Fritsch.
Platinum faces its third consecutive year of important offer deficit
“According to the forecast, the platinum market is expected to show another considerable supply deficit of 736 thousand ounces this year. This would be the third significant deficit of consecutive supply. Demand is expected to fall 2.6% because it is likely that the automotive industry requires less platinum and it is also expected that the investment demand will decrease. The offer is expected to fall 1.3%. The main reason of this is a 5% drop in 5% In South Africa. This will avoid a lower offer deficit. “
“The company expects the paladium market to be almost balanced this year, after an supply deficit of 501 thousand ounces last year. The reason for the disappearance of the supply deficit is a 6.4% drop in demand. As with platinum, this is due to a lower demand for paladium by the automotive industry and a weaker investment demand. This last one is expected to be negative for the first time in three years, what can be explained for the first time in three years For the expected output flows of the ETF.
“This is mainly due to a decrease in mining production in South Africa and North America. In contrast, the recycling offer of the automotive industry will be expected to increase. Other market observers, such as the World Investment Council in Platino and Metals Focus, a research company specialized in precious metals, their new forecasts are expected to publish on Monday.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
