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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 9th March 2022.

This twenty-ninth edition of the Platinum Quarterly, published on 24th November 2021, includes Q3 2021 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 2021 and 2022.

The full report is available here:

Download Tables [XLS]

Overview of key data presented in the latest Platinum Quarterly:

Global platinum demand for the total of automotive, jewellery and industrial applications in Q3’21 continued the positive year-on-year growth trend seen in the previous three quarters, however, negative investment demand and near record refined supply drove the market balance into a surplus of 592 koz this quarter. The forecast for 2021 is now revised to a surplus of 769 koz, while 2022 is forecast to see a surplus of 637 koz.

  • Supply levels are being boosted by processing of semi-finished material from 2020, with total supply expected to be up by 19% in 2021, but for 2022 to be almost flat on 2019
  • Automotive demand is set to grow 14% in 2021, and a further 20% in 2022, despite semiconductor chip shortages
  • ETF and exchange stock demand falls, while bar and coin demand grows, up 25% in Q3’21 and forecast up 10% in 2022 on global risk
  • Industrial demand is expected to surge 26% in 2021, with 2022 to be above 2019 level
  • Jewellery’s recovery from pandemic effects patchy, with Q3’21 down 5% but 2021 and 2022 both above 2020 level.