Platinum supply to increase by 17% in 2021
Jewellery recycling volumes to grow by 16% in 2021 2021 outlook is with the accordance with World Platinum Investment Council (WPIC), that a focus on demand & supply both. Here is the announced 2021 Platinum Supply outlook by WPIC. According to the recent WPIC report, in 2021 total supply is forecast to increase by 17% (+1,127 koz) year-on-year to 7,865 koz, recovering to 95% of the pre-pandemic level. Mine supply is expected to sharply rebound 20% (+976 koz) year-on-year to 5,772 koz following the extreme disruption of 2020. South Africa will account for most of the gains and is forecast to rise 32% (+992 koz) year-on-year to 4,092 koz as output recovers following the processing infrastructure failure and pandemic curtailed operations of 2020. The mine restructuring and shaft closures of the previous few years, a response to the low PGM price environment, have now been fully implemented with the decline in mine capacity expected to stabilise in 2021. Reserv...