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