The global platinum market is expected to see a deficit of 983 koz in 2023, up 77%, as demand growth outstrips supply.
Year-on-year Q1 2023 demand rose 28%, while supply decreased 1% on national electricity supply problems in South Africa.
The factors driving growth include strong automotive and industrial demand, especially in China.
“From a macro perspective, 2023 presents a raft of both existing and new challenges, with an uncertain— Trevor Raymond, CEO of the World Platinum Investment Council
economic and interest rate environment, turmoil in the banking sector, inflationary headwinds,
and a global energy crisis. Against these challenges, platinum is, counterintuitively, forecast to
see a meaningful and sustained period of deficit