Platinum Jewellery demand in 2021 to grow 13%
Total Platinum demand in 2021 to increase by 2% 2021 outlook is with the accordance with World Platinum Investment Council (WPIC), that a focus on demand & supply both. Here is demand outlook; supply outlook is being carried here earlier! As the world emerges from the pandemic over the course of 2021, we expect economic activity to gradually return to near pre-pandemic levels and automotive, jewellery and industrial demand to grow. However, as investment demand is not expected to repeat the record in 2020 it will decline. Total platinum demand in 2021 is therefore expected to increase 2% (+150 koz) to 8,089 koz. We forecast a 24% (+575 koz) increase in automotive demand as light-duty vehicle production is set to increase by 11 m units to 85 m and heavy-duty vehicle production grows by 5%. Even though light-duty production is expected to be 4m units below 2019, platinum demand is projected to increase to 4% above pre-pandemic levels due to the increase in loadings and su