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Platinum Quarterly is commissioned by the World Platinum Investment Council and based upon independent research and analysis conducted by Metals Focus. We publish similar commentary every quarter ensuring greater transparency of the global platinum market and the delivery of regular data to investors. The next Platinum Quarterly will be published on 10th March 2021.

This twenty-fifth edition of the Platinum Quarterly, published on 18th November 2020, includes Q3 2020 analysis of platinum supply and demand fundamentals. It also gives a view of the global above ground stocks of platinum and an outlook for market fundamentals for both 2020 and 2021.

The full report is available here:

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Overview of key data presented in the latest Platinum Quarterly:

This report incorporates analysis of platinum supply and demand during the third quarter of 2020, a revised full year forecast for 2020, and a first full year forecast for 2021.   

Overall, Q3’20 saw large sections of the market, both supply and demand, returning to near-pre-COVID-19 operational levels as global economic conditions improved compared to the first half of 2020. Platinum had a strong Q3 2020 recovery as lockdowns eased ─ supply up 48%, demand up 75%, leaving the quarter in a deficit of -709 koz.

The 2020 forecast shows supply down 18%, demand down only 5% and a deficit of -1,202 koz. A record investment demand is forecast for the year on high global risk and platinum’s key role in the hydrogen economy.

The first 2021 forecast shows supply up 17%, demand up 2% and a third consecutive annual deficit expected, at -224 koz. Within this, Chinese jewellery demand is forecast to rise for the first time in seven years.