Platinum market deficit deepens: third consecutive deficit in 2025, now expected at 966 koz – London, 19 May 2025
Forecast total supply in 2025 is the lowest in five years, declining by 4% to 6,999 koz; Resurgence in China platinum jewellery demand drives a forecast 5% increase in global jewellery demand this year; Automotive demand resilient despite market uncertainty; forecast 2% reduction to 3,052 koz for full year 2025; Robust investment demand continues, forecast at 688 koz in 2025, bolstered by strong bar and coin demand in China; Above ground stocks to fall to 2,160 koz in 2025, representing only three months of demand cover.