The main theme is the analysis of the platinum market dynamics in 2025, including the impact of rising prices on investments through exchange-traded funds (ETFs) and platinum demand in China.
Key findings include that the rise in platinum prices in 2025 led to ETF asset sales, but this is unlikely to significantly reduce the projected platinum market deficit. Platinum demand in China, particularly in jewelry and investments in bars and coins, exceeded expectations. Platinum stocks on exchanges remain high despite ETF sales.