Platinum Market Deficit Forecast to Exceed 1 Million Ounces in 2024
Monday, 9 September 2024, 22:04
Understanding the Impending Platinum Deficit
The platinum market is set to witness an estimated deficit of over 1 million ounces in 2024 driven by robust demand. According to the World Platinum Investment Council (WPIC), total platinum demand is projected to reach 8,118,000 ounces, culminating in a significant market void of 1,028,000 ounces.
Factors Influencing Increased Demand
- Industrial Applications: Growth in various industrial sectors is expected to amplify the demand for platinum.
- Investment Trends: An increase in investment interest could bolster platinum's appeal as a valuable asset.
These trends suggest a dynamic future for the platinum market, requiring stakeholders to remain vigilant.
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.