WPIC: Global Platinum Market to Witness Third Consecutive Year of Deficit in 2025

At the same time, the total supply is forecast to witness marginal rise by 1% to 7,324 koz, WPIC report said.

SEATTLE (Scrap Monster): The World Platinum Investment Council (WPIC) published its Platinum Quarterly Report for the third quarter of 2024.

The deficit for the current year is predicted to be 682 koz. The demand is expected to remain constant year over year and reach 7,951 koz, maintaining the extraordinarily high demand from the prior year. The supply is expected to stay limited at 7,269 koz, which is 2% more than the previous year.

The market is probably going to see a 539 koz deficit in 2025, which would be the third consecutive year of deficit. The overall demand is predicted to stay high at 7,863 koz, but 1% less than in 2024. According to the WPIC study, the overall supply is expected to slightly increase by 1% to 7,324 koz at the same period.

In Q3 2024, the demand for automotive platinum fell 3% year over year. In 2024, the demand is anticipated to drop by 2% to reach 3,173 koz. The demand is expected to increase by 2% to 3,245 koz in 2025.

According to the quarterly study, the jewelry industry is expected to develop steadily, mostly due to expansion in the North American, Chinese, and Indian markets. In 2025, it anticipates net positive investment demand for the third year in a row. On the other hand, it is anticipated that industrial demand will drop by nearly 9% during the course of the following year.

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