News Archive

2024 platinum market deficit forecast to exceed one million ounces – London, 10 September 2024

Supply forecast to weaken further, falling 1% to 7,089 koz in 2024, 6% below the 5- year average, while total demand now expected to grow 3% to 8,118 koz; Investment demand of 517 koz forecast for the year, boosted by ETF inflows and strong growth in bar and coin demand in China, especially in the large bullion bar category (500g and above, now included in demand figures); A jump in jewellery demand in Q2’24 contributes to overall 7% increase for the year in this segment; Automotive and industrial demand both forecast to increase 1% in 2024, from already elevated levels

Key Takeaways from Shanghai Platinum Week 2024 – London, 12 July 2024

The Fourth annual Shanghai Platinum Week (SPW 2024), co-organised by the WPIC, China Gold Association, Anglo American, and the China Precious Metals Industrial Committee, concluded with a wealth of insights and discussions on the Platinum Group Metals (PGMs) market; While numbers are still being finalised, provisionally, this year, SPW 2024 welcomed more than 500 attendees from over 300 organisations, with online viewership reaching 455K on the first day and 317K on the second day, far exceeding any previous year

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GFEX reveals details of China’s first platinum and palladium futures contracts at Shanghai Platinum Week – London, 9 July 2024

New ingot and sponge monthly contracts to offer domestic mechanism to hedge price risks

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2024 platinum market deficit forecast revised upwards to 476 koz, as weaker supply outstripped by sustained automotive and industrial demand – London, 13 May 2024

Total platinum supply in Q1’24 was the second lowest in our time series, with full year 2024 also forecast to be a near-record low; Automotive demand at a seven-year high in both Q1’24 and forecast full year 2024; Jewellery demand increased 5% in Q1’24 driven by 53% year-on-year growth in India; Industrial demand fell from a record high in 2023, yet remains 17% above the pre- COVID average; Investment demand set to remain positive in 2024 for second consecutive year, supported by bar and coin demand in China

Consecutive platinum market deficits: 418 koz expected in 2024 following 878 koz in 2023 – London, 6 March 2024

Platinum demand surged 25% in 2023 and will remain robust in 2024; Near record low platinum supply levels in 2023 will decrease another 1% in 2024; Automotive demand rose 16% in 2023, set to grow in 2024; Industrial demand down 14% in 2024 from record high in 2023, but still 12% above pre-COVID five-year average; Back-to-back net positive investment demand in 2023 and 2024

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

Platinum deficit forecast for 2023 now over 1 million ounces on strong automotive and industrial demand growth and flat supply – London, 6 September 2023

Total demand expected to increase 27% in 2023, while total supply will be flat; Automotive recovery will see 2023 demand up 13% (+381 koz), driven by greater- than-expected vehicle production, increased substitution and higher loadings; Capacity expansions drive forecast industrial demand in 2023 to a record 2,667 koz; Strong ETF demand in Q2’23, with 2023 forecast total investment of 386 koz

Platinum deficit of 983 koz now forecast for 2023 as stronger-than-expected demand growth outstrips constrained supply – London, 15 May 2023

Revised platinum deficit forecast for 2023, up 77% to 983 koz, as demand grows 28% and supply decreases 1% year-on-year; Stronger-than-expected positive investment demand in quarter one sees full-year forecast raised to 433 koz; Industrial demand on track to be the strongest on record, increasing 17% driven by glass capacity expansions in China; Strong platinum automotive demand growth continues in 2023, up 12% on higher loadings and increased substitution

Platinum deficit of 556 koz forecast in 2023, as strong demand growth outstrips constrained supply – London, 8 March 2023

Platinum deficit forecast for 2023 as demand to grow by 24%, while supply by just 3% due to severe constraints; Automotive demand set to rise 10% in 2023 on increased platinum for palladium substitution and higher loadings; Industrial demand in 2023 to increase 12% year-on-year, almost matching its strongest year on record; Investment demand in 2023 forecast to improve by over 900 koz on strong bar and coin demand and much lower ETF and exchange stock outflows

Platinum deficit of 303 koz forecast in 2023 as 2022 surplus reduces – London, 22 November 2022

Platinum deficit forecast for 2023 as demand to grow by 19%, while supply by just 2%; Downward revision of surplus forecast in 2022 by 17%; Automotive demand continues upward trajectory; up 12% in 2022 and 11% in 2023; Despite economic headwinds, industrial demand in 2023 to be up 10% and well above the ten-year average; Bar and coin demand forecast to jump 49% in 2023, driving overall investment demand positive

World Platinum Investment Council announces the appointment of Edward Sterck as Director of Research – London, 20 October 2022

The World Platinum Investment Council - WPIC® - today announces the appointment of Edward Sterck as Director of Research, effective from 1 November 2022.

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World Platinum Investment Council announces the appointment of Trevor Raymond as Chief Executive – London, 21 September 2022

The World Platinum Investment Council - WPIC® - today announces the appointment of Trevor Raymond as its new Chief Executive Officer, effective from 1 October 2022.

Paul Wilson retires as Chief Executive World Platinum Investment Council – London, 30 September 2022

On Paul’s last day as CEO of the company he has led since its inception, his successor Trevor Raymond reflects on WPIC successes and achievements under Paul’s 8-year leadership.

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Physical platinum market tightness persists in 2022 despite increased surplus – London, 5 September 2022

Pointing to a tight physical market, platinum lease rates remain at almost record highs; Automotive, jewellery and industrial sectors remain resilient despite strong headwinds; Total supply forecast down 8% in 2022; Platinum ETF holdings and exchange stocks fall as excess China imports rise

Events in Q1’22 hit platinum supply harder than demand, with previous surplus forecast for 2022 reduced to 627 koz – London, 16 May 2022

Platinum supply forecast to fall 5% in 2022, while demand to increase 2%; Despite unprecedented headwinds, annual automotive demand in 2022 forecast to rise 16%; Strong jewellery demand in Europe, North America, Japan and India unable to offset falls in pandemic-affected China; Strong underlying platinum industrial demand masked by reduced expansions in glass

Unique platinum coins to be used at Wimbledon to mark Jubilee celebrations and Centre Court tennis centenary – London, 26 April 2022

Platinum coins will be used in the Ladies’ and Gentlemen’s singles finals coin toss for the first time – commemorating both Her Majesty the Queen’s Platinum Jubilee and the centenary of Centre Court.

Platinum surplus of 1,232 koz in 2021 forecast to reduce by 47% in 2022 as COVID-related and operational disruptions gradually settle – London, 9 March 2022

Increase in supply in 2021 forecast to plateau in 2022, as last of additional semi- finished material is processed; Significant rises in automotive (+11%), industrial (+27%), and jewellery (+5%) demand in 2021 set to remain strong in 2022; Fall in investment demand from historic highs of 2020 brought overall demand down in 2021; Imports into China, significantly above identified demand, absorb full 2021 surplus, maintaining tightened conditions in the platinum bullion market

Platinum surplus in 2021 and 2022 as stock unwind boosts supply and muted investment offsets otherwise strong demand – London, 24 November 2021

High supply levels forecast in 2021 and 2022 as processing of semi-finished stock from 2020 boosts otherwise flat mine output; Despite semiconductor chip shortage, platinum automotive demand forecast up 14% in 2021 and 20% in 2022 on substitution for palladium and tighter emissions legislation; Bar and coin demand up 25% in Q3’21 and forecast up 10% in 2022 on global risk while ETF holdings and exchange stocks reduce

Modest surplus for 2021 as processed backlog boosts platinum supply recovery and exceeds strong automotive and industrial demand growth – London, 9 September 2021

Post-COVID recovery sees global demand up 23% on Q2’20, with stand out rises in automotive and industrial sectors; Boost from faster processing of 2020 plant outage backlog sees supply increase 55%, with Q2’21 and annual forecast both in surplus; Following two record years, investment demand settles back to levels still above the pre-pandemic average as COVID-driven exchange stock inflows are not repeated

Global economic recovery sees demand for platinum grow in Q1 with third consecutive annual deficit expected in 2021 – London, 17 May 2021

Fourth consecutive quarterly deficit posted in Q1’21 (-19 koz), with third consecutive annual deficit of -158 koz forecast for 2021; Platinum supply recovers, although not yet to pre-pandemic levels; Demand growth driven in particular by industrial, automotive and jewellery sectors, as global recovery gains momentum; Platinum’s use in green technologies sees investment demand remain strong

Platinum demand outstripped supply by record 932 koz in 2020, with third consecutive annual deficit expected in 2021 – London, 10 March 2021

Supply down 17% in 2020, while demand down only 7% and deficit of -932 koz – the largest on record; Third consecutive annual deficit forecast for platinum in 2021; Automotive platinum demand in 2021 forecast to increase 25% accelerated by Chinese heavy-duty vehicles; Investment demand to remain strong as platinum’s links with the hydrogen economy continue to attract investor interest, while platinum remains heavily undervalued compared to gold and palladium

Platinum holdings on BullionVault almost double in last 12 months – London, 17 February 2021

Client holdings for platinum rise 90% in last 12 months to 55 koz (1.7 t), and 120% by US Dollar value to $61m; Number of investors in platinum rises by over 70%; Platinum investors now spread across 95 countries worldwide

Platinum demand outstrips supply with 1.2 moz deficit now expected in 2020 – London, 18 November 2020

2020 forecast shows supply down 18%, demand down only 5% and deficit of -1,202 koz; First 2021 forecast shows supply up 17%, demand up 2% and deficit of -224 koz; Strong Q3 2020 recovery as lockdowns eased ─ supply up 48%, demand up 75%; Record investment demand forecast in 2020 on high global risk and platinum’s key role in the hydrogen economy; Chinese jewellery demand for 2021 forecast to rise for the first time in seven years

Platinum demand forecast rises as investors flock to precious metals – London, 8 September 2020

Q2 2020 demand down 19% year-on-year but supply down by 35%; Weaker supply and strong investment demand move 2020 forecast to -336 koz deficit; Since the price lows of 19th March 2020, platinum has significantly outperformed gold; Hydrogen economy elevates platinum as a precious metal with long-term store of value

Impact of COVID-19 on platinum market less than expected – London, 18 May 2020

2020 demand down 18% but supply down 13%; Forecast 2020 surplus of 247 koz only 128 koz higher than previously forecast; Investors act on price fall as demand for bars and coins surges to 19% of total demand in Q1 2020 from 2% in previous quarter; Smelting process failure and more stringent auto emissions legislation major factors that limit surplus

Balanced global platinum market in 2020 with coronavirus jewellery risk but automotive opportunity – London, 4 March 2020

New 2020 forecast shows platinum supply to narrowly exceed demand by 1.5% or 119 koz, indicating a balanced market; Outlook driven by strong industrial and growing automotive demand with upside from reducing CO₂ emissions and responding to palladium shortages; In 2019, platinum surplus reduced to 65 koz from 790 koz in 2018, with total supply up 1% and total demand up 11%.

2019 global platinum market balanced with surplus forecast in 2020 – London, 21 November 2019

Balanced market in 2019 on 2% supply growth but record 1 moz growth in ETF holdings; 2020 surplus of 670 koz despite a 1% supply fall and strong, yet lower, investment demand; 2020 automotive forecast excludes any platinum-for-palladium substitution

2019 global platinum market surplus shrinks with strong investment demand – London, 6 September 2019

Further platinum ETF growth in second quarter after record growth in Q1; SA mine supply up 1% year-on-year from one-off pipeline stock release; Annual surplus shrinks towards a balanced market on investment demand gains

Our 2019 Platinum and Hydrogen Summit took place on 24th - 25th May in Shanghai.

Global platinum market sees lower surplus in 2019 after record Q1 investment demand – London, 13 May 2019

Highest quarterly platinum ETF growth since their launch in 2007; SA mine supply seasonally strong but from pipeline stock release; Highest quarterly deficit since WPIC commenced publication

Global platinum demand forecast to increase by 5% in 2019 – London, 6 March 2019

2019 demand up on resurgent investor demand for ETFs; 2019 surplus of 680koz up on 2018 as supply rises by 5%; Platinum’s demand growth prospects up due to higher palladium price

The World Platinum Investment Council (WPIC) today announced its latest strategic partnership in China with Bank of China Shanghai RMB Trading Center (BOC) - Beijing, 6th December 2018

Global platinum demand forecast to increase by over 2% in 2019 – London, 28 November 2018

2019 demand up on continued growth in industrial and rebound in investment; 2019 automotive forecast excludes meaningful platinum for palladium substitution; Platinum surplus forecast in 2019 — 10% lower than 2018 surplus

World Platinum Investment Council partners with China’s CNOOC Taiyuan to offer platinum investment products to retail investors via ICBC E-commerce platform – London, 11 October 2018

The World Platinum Investment Council (WPIC) today announces its latest strategic partnership in China with CNOOC Taiyuan Precious Metal Co., Ltd (CNOOC Taiyun).

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Global platinum supply to contract by 2% in 2018 – London, 6 September 2018

QFull year supply forecast revised downwards following reduced jewellery recycling; Overall global demand to fall by 2% compared to 2017; Industrial demand to strengthen by 5% to highest level in in 6 years

World Platinum Investment Council (WPIC) and Shenzhen Hengfu Yingjia launch first platinum bar products in China – Shenzhen, 11 July 2018

Partnership paves the way for increased access to retail platinum investment products in China; Move supports WPIC’s mission to stimulate investor demand for physical platinum worldwide

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Global platinum market sees rising demand, lower supply and a reduced surplus in 2018 – London, 14 May 2018

Q1’18 SA mine supply falls to lowest level for two years; Rebound in jewellery and industrial demand to continue in 2018; Investment demand buoyed by strong bar and coin buying in Q1’18

Platinum market forecast to remain in balance in 2018 – London, 8 March 2018

Global platinum supply predicted to fall by 2% in 2018; Industrial and jewellery demand expected to rebound; Investment demand buoyed by robust ETF buying in 2017

Rebound in jewellery and industrial demand to drive 2018 platinum deficit – London, 21 November 2017

Jewellery posts growth of 3%, the first in 4 years; Industrial demand recovers to 2016 levels with an increase of 9%; Supply to stall with South African output set to fall by 2%

Platinum market forecast to remain in balance during 2017 – London, 6 September 2017

Evidence of continued supply constraints in Q2 2017; Automotive demand for FY 2017 estimated at 2014 level; Sixth consecutive quarter of positive investment demand

The Royal Mint launches its first ever platinum bullion products – London, 15 May 2017

The Royal Mint has timed its first entry into the platinum bullion market to coincide with London Platinum Week.

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Platinum mining supply predicted to fall further in 2017 – London, 15 May 2017

Automotive demand for platinum in 2016 and 2017 revised upwards; ETF assets climb to highest level since 2015; Recycling projected to drop in 2017

World Platinum Investment Council supports London and Paris on independent road-testing initiative – London, 29 March 2017

WPIC Diesel issue brief

World Platinum Investment Council and BullionVault launch the lowest-cost physical platinum marketplace – London, 14 March 2017

The first platinum offering on BullionVault’s platform; Provides investors with access to the lowest-cost physical platinum bullion product in the world

World Platinum Investment Council 2017 platinum market deficit forecast increases – London, 9 March 2017

Automotive demand remains resilient; Total supply is predicted to fall by 4% in 2017; Q4 2016 turnaround in ETF buying boosts investment demand

Muthoot Exim Launches India’s First Platinum Deity Products in Association with the World Platinum Investment Council (WPIC) – Mumbai, 2 March 2017

Range includes platinum statuettes of Lord Ganesh in 3gm, 6gm and 9gm sizes; Products to be available at Muthoot Fincorp Branches; Easily affordable via savings and accumulation plans

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The Royal Mint and World Platinum Investment Council (WPIC) to partner on new range of platinum investment products – London, 15 December 2016

Move marks first bullion platinum offering from The Royal Mint; Partnership supports WPIC’s mission to stimulate investor demand for physical platinum worldwide

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Smaller overall FY2016 platinum market deficit anticipated – London, 22 November 2016

Stable automotive demand for platinum; 2016 Chinese jewellery market softer than previously forecast; 2017 forecast projects sixth consecutive annual market deficit

FY2016 platinum market deficit forecast revised upward – London, 8 September 2016

Recycling supply growth weaker than expected as scrappage rates lowered; Small Q2 surplus as supply rebounds following Q1 outage, while demand from key sectors remains robust

World Platinum Investment Council and BullionVault join forces to launch new online marketplace for physical platinum – London, 27 July 2016

Move will ensure improved access to platinum for retail investors

Reasons why a family office should consider investing in platinum

This article was published in The Summer 2016 edition of Campden FO magazine

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World Platinum Investment Council to support promotion of Japan Physical Platinum ETF – Tokyo, 07 July 2016

Follows record AUM growth of “Fruit of Platinum” ETF(Physical Platinum Exchange Traded Fund) in 2015; One of WPIC’s initiatives to stimulate investor demand for physical platinum worldwide

FY2016 Platinum deficit forecast increases as market tightens – London, 16 May 2016

2016 to be in deficit by 455 koz – up from original 135 koz; Investment demand surges buoyed by Japanese bar-buying in Q1 2016

World Platinum Investment Council (WPIC) partners with Swiss refiner Valcambi sa to expand availability of platinum bar and coin products worldwide – London, 11 May 2016

Agreement paves the way for increased access to retail platinum investment products; Partnership supports WPIC’s mission to stimulate investor demand for physical platinum worldwide

Automotive demand for platinum strengthens in 2015 up 5% year‑on‑year – London, 2nd March 2016

Mining supply returns to pre-strike level but recycling falls; 2016 forecast to be fifth consecutive deficit year.

Fuel cell, jewellery and investment:

Major inflection points for future platinum demand.

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Platinum market to see a decade of annual deficits to 2021 – London, 29th January 2016

WPIC commissioned report by Glaux Metal forecasts an average annual deficit of 250,000 ounces for six-year period to 2021

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World Platinum Investment Council approved as Singapore Bullion Market Association member – London, 28th January 2016

Singapore a priority for platinum market development efforts in 2016

World Platinum Investment Council (WPIC) to expand global platinum investment choices with launch of new bullion coin custodial certificates – London, 10th December 2015

Exclusive agreement between WPIC and Rand Merchant Bank (RMB) will extend global reach of platinum bullion coin custodial certificates

Platinum market deficit in Q3 2015 – London, 24th November 2015

Smaller overall 2015 deficit anticipated after early Q4 ETF outflows. Market forecast to be in balance in 2016.

Global Platinum market remains in deficit during Q2 2015 – London, 8th September 2015

The World Platinum Investment Council (WPIC) today announces the publication of its fourth Platinum Quarterly - the first independent, freely-available, quarterly analysis of the global platinum market. The report incorporates analysis of platinum supply and demand during the second quarter of 2015.

Reduced capital investment expenditure set to curb platinum mining output by 16% in 2016 – London, 12th August 2015

WPIC commissioned report by Venmyn Deloitte suggests that reduced capex will ensure platinum market remains in deficit in 2016 and 2017.

Global Platinum market remains in deficit during Q1 2015 – London, 18th May 2015

The World Platinum Investment Council (WPIC) today announces the publication of its third Platinum Quarterly - the first independent, freely-available, quarterly analysis of the global platinum market. The report incorporates analysis of platinum supply and demand during the first quarter of 2015.

World Platinum Investment Council appoints Marcus Grubb as Director of Market Development – London, 5th May 2015

The World Platinum Investment Council (WPIC) today announces the appointment of Marcus Grubb as Director of Market Development. He officially joins WPIC on the 1st of July and will be based at WPIC’s new global headquarters in St James’s, London.

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We announce the appointment of David Badham as Chief Administrative Officer – London, 26th March 2015

The World Platinum Investment Council (WPIC) today announces the appointment of David Badham as Chief Administrative Officer. He joins with immediate effect and is based at WPIC’s global headquarters in London.

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The World Platinum Investment Council (WPIC) today announces the publication of its second Platinum Quarterly - London, 11th March 2015

The first independent, freely-available, quarterly analysis of the global platinum market. The report incorporates analysis of annual platinum supply and demand for 2014, including a detailed review of the platinum market in Q4 2014, and a 2015 market forecast.

World Platinum Investment Council announces the appointment of Trevor Raymond as Director of Research - February 17 2015

The World Platinum Investment Council (WPIC) today announces the appointment of Trevor Raymond as Director of Research, with effect from 1 March 2015. He joins from Anglo American Platinum where he was the Head of Market Intelligence and Market Relations – Precious Metals for 6 years.

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World Platinum Investment Council launches Platinum Quarterly Independent analysis of global supply, demand and above ground stocks of platinum - December 3 2014

The World Platinum Investment Council (WPIC) today announces the launch of Platinum Quarterly - the first independent, freely-available, quarterly analysis of the global platinum market. This inaugural Platinum Quarterly incorporates analysis of annual platinum supply and demand for 2013 and 2014. Importantly, the first analysis of quarterly supply and demand (Q3 2014) and an estimate of global above ground stocks of platinum are also presented.

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Platinum producers launch trade body to attract asset investors - November 18 2014

The world’s top platinum producers have joined forces to launch an industry promotional body on Tuesday in an effort to increase demand for the precious metal as an investment asset.

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Platinum industry launches the World Platinum Investment Council to stimulate platinum investment - November 18 2014

Today, the world’s leading platinum producers announce the launch of a new industry entity,the World Platinum Investment Council (WPIC), which will work to develop the global market for platinum investment.

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