Global Platinum Market Braces for Second Consecutive Year of Deficit
Monday, 13 May 2024, 05:01
Global Platinum Market Overview:
Global platinum supply is expected to fall short of demand for a second consecutive year, leading to a near-record deficit in 2024. The World Platinum Investment Council warns of significant challenges ahead due to weak growth in supplies and surging automotive demand.
Key Points:
- Supply-Demand Gap: The platinum market is struggling to keep up with increasing demand, resulting in a deficit for two consecutive years.
- Automotive Sector Impact: First-quarter automotive demand has reached its highest level in seven years, further intensifying the deficit.
The ongoing deficit in the global platinum market underscores the need for strategic interventions to stabilize the industry.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.