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