London – The global platinum market will be in a structural deficit for a third consecutive year in 2025 as mine supply remains constrained despite rising recycling and a 1% decline in demand, the World Platinum Investment Council said on Tuesday.
“The market is facing the third year of pretty material deficit in 2025, with automotive demand expected to grow to an eight-year high and jewellery demand to rise for the second year in a row after bottoming out,” said Edward Sterck, head of research at the WPIC. Next year, the WPIC expects mine supply to fall 2% due to lower South African production and to be fully offset by a 12% recovery in recycled supply.
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