WPIC: shortfall of platinum in January-March amounted to 8.5 tons

17 May 2016

In the first quarter of 2016, platinum shortfall in the global market amounted to 275 thousand ounces (8.55 tons) compared to the excess of 115 thousand ounces in the fourth quarter of last year, according to the report of World Platinum Investment Council (WPIC). In particular, world platinum supply in the first quarter dropped to 1.735 million ounces against 1.945 million ounces in the fourth quarter. Including primary production amounted to 1.340 million ounces against 1.570 million ounces, recycling - 395 thousand ounces against 375 thousand ounces, including recycling of jewelry has grown to 115 thousand ounces from 105 thousand ounces. Demand for platinum in the reporting period increased to 2.010 million ounces from 1.830 million ounces including demand in the automotive industry amounted to 875 thousand ounces (+ 2.3%), jewelery demand - 600 thousand ounces (-11%), industrial demand decreased by 6.2 % to 380 thousand ounces. Investment demand was positive (155 thousand ounces) while the outflow from ETF in the reporting period amounted to 25 thousand ounces against 345 thousand ounces in the fourth quarter. Demand for coins and bullion of platinum decreased by 33.3% to 140 thousand ounces.


This year, forecast by platinum shortfall was increased by WPIC again to 455 thousand ounces from 135 thousand ounces earlier due to decrease in supply and demand growth. At the same time, it is expected that platinum supply will be 7.8 million ounces (-1% in 2015) against 8.03 million ounces expected earlier as well as the demand - 8.255 million ounces (at the level of the last year) compared to the previously expected 8.165 million ounces. In November 2014, six leading producers of platinum: Anglo American Platinum, Aquarius Platinum, Impala Platinum Holdings, Lonmin, Northam Platinum and Royal Bafokeng Platinum created WPIC (World Council of Investments in platinum) to attract investments in the sector, jointly fund and develop new products, study the market and share information.

Sourсe: Gold Mining Manufacturers' Reporter gold.1prime.ru