Platinum Shortage 2024. The world platinum investment council, whose members are major western producers, expects platinum to be in an average annual deficit of 500,000. Automotive platinum demand growth should continue through 2024 due principally to substitution of platinum for palladium in gasoline vehicles.
Platinum deficit of 353 koz forecast for 2024, with this year’s deficit to exceed 1 million ounces. The price of platinum group metals (pgm) has fallen by 42% this year and could widen a supply deficit if unprofitable mines are sidelined, according to a new report.
The World Platinum Investment Council Predicts A Record Deficit Of 1,071 Koz In The 2023 Market Due To Strong Demand Growth Of 26% To 8,150Koz And A 3% Drop.
Platinum futures have lost more than 8%.
A European Union Industry Group On Monday Downgraded Its 2024 Steel Demand Outlook For The Second Time In A Matter Of Months, Projecting Growth Of 3.2%,.
Platinum demand surged 25% in 2023 and will remain robust in 2024.
The Platinum Deficit Deepened In 2023 — How Will This Supply Shortfall Impact The Market In The Year Ahead?
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Platinum Futures Have Lost More Than 8%.
Platinum demand surged 25% in 2023 and will remain robust in 2024.
Near Record Low Platinum Supply Levels In 2023 Will Decrease Another 1% In 2024.
The precious metal is forecast to be in a market deficit of 418,000 ounces in 2024—from prior expectations of 353,000 ounces—amid strained supply from the.
Why Platinum Prices Continue To Lose Luster Despite A Supply Shortage.