This report incorporates analysis of platinum supply and demand during Q3 2023 and an updated outlook for full-year 2023 and a first forecast for 2024.
- Second consecutive platinum deficit forecast in 2024 amid ongoing automotive and industrial demand strength and constrained supply (2023 estimated deficit 1,071 koz; 2024 forecast deficit 353 koz)
- Both mining and recycling supply expected to be well below pre-COVID levels in 2023 and 2024
- Automotive demand continues to strengthen, up 14% estimated for 2023, with a further 2% increase expected 2024
- 2023 will see the highest industrial demand on record, with 2024 the third-highest
- Investment demand forecast to remain positive in 2024