Platinum market in structural deficit: third consecutive deficit with 848 koz expected in 2025 following 995 koz in 2024 – London, 5 March 2025
Full year 2024 deficit of almost 1Moz and 2025 forecast deficit up 57% on updated forecast; Total supply up 3% in 2024 and is forecast to reduce 4% in 2025; Automotive demand at 3,130 koz in 2024 and 3,102 koz in 2025 despite headwinds; Jewellery demand up 8% in 2024, to grow 2% in 2025 to 6-year high; Investment demand up 77% in 2024 on strong exchange traded fund (ETF) inflows and large bar demand in China; Above ground stocks fell 23% in 2024 and to fall 25% in 2025 to 2,535 koz, less than four months’ worth of demand