Platinum recycling is expected to grow 7% in 2024
Amid headwinds Platinum deficit of 353 koz in 2024! Recently, World Platinum Investment Council (WPIC), published Platinum Quarterly data set, which examines activity in the third quarter of 2023. It also includes a revised estimate for full-year 2023 and a first forecast for 2024. Independent analysis is provided by our research partner, Metals Focus. The Foreword to the report provides an overview of supply and demand developments in the platinum market, as well as our view on issues and trends relevant to considering exposure to platinum as an investment asset. Key takeaways from the report are; 1: Platinum deficit of 353 koz forecast for 2024, with this year’s estimated deficit to reach a record 1,071 koz. 2: Both mining and recycling supply expected to be well below pre-Covid levels in 2023 and 2024 3: Automotive demand continues to strengthen, up 14% this year, with a further 2% increase expected next year 2023 will see the highest industrial demand on record, with ...