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Platinum market deficit deepens: third consecutive deficit in 2025, now expected at 966 koz

  • The World Platinum Investment Council forecasts a third consecutive market deficit of 966 koz in 2025 amid declining supply and demand.
  • This deficit follows a 4% year-on-year supply drop to 6,999 koz, driven mainly by reduced mining output, especially in South Africa due to intense rainfall.
  • Demand is expected to fall 4% to 7,965 koz as increased jewellery and investment demand, notably from China, does not fully offset automotive and industrial declines.
  • In Q1 2025, mining supply hit a five-year low of 1,086 koz, automotive demand declined 4% to 753 koz, while investment demand rose 28% quarter-on-quarter, boosted by Chinese bar and coin purchases.
  • Despite uncertainties in the market and shifting US tariff regulations, structural deficits continue, with above-ground platinum inventories declining to 2,160 koz, sufficient to cover just a quarter of annual demand.
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Platinum market deficit deepens: third consecutive deficit in 2025, now expected at 966 koz

Forecast total supply in 2025 is the lowest in five years, declining by 4% to 6,999 kozResurgence in China platinum jewellery demand drives a forecast 5% increase in global jewellery demand this yearAutomotive demand resilient despite market uncertainty; forecast 2%…

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bipns.com broke the news in on Monday, May 19, 2025.
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