WPIC – Platinum Essentials, Jan 2026

This report provides an updated five-year supply and demand outlook for the platinum market through 2030.

It forecasts narrower market deficits averaging 348 thousand ounces annually from 2027 to 2030, supported by strong price momentum and increased recycling. The report highlights challenges in balancing long-term fundamentals with near-term market dynamics amid complex geopolitical conditions. Platinum's above-ground stocks have significantly declined, fueling a price rally, while palladium is expected to trend towards a surplus supported by recycling growth.