Second consecutive platinum deficit forecast in 2024 amid ongoing automotive and industrial demand strength and constrained supply – London, 21 November 2023
Platinum deficit of 353 koz forecast for 2024, with this year’s deficit to exceed 1 million ounces; Both mining and recycling supply expected to be well below pre-COVID levels in 2023 and 2024; Automotive demand continues to strengthen, up 14% this year, with a further 2% increase expected next year; 2023 will see the highest industrial demand on record, with 2024 the third-highest; Investment demand forecast to remain positive in 2024