WPIC – Platinum Quarterly, Q2 2025

The main theme of the report is the analysis of platinum supply and demand movements in the second quarter of 2025, along with an updated forecast for the entire year.

Key findings include a 37% increase in platinum prices over the three months to June 2025, despite a small deficit of 11,000 ounces in this quarter. The global platinum market is expected to be in a deficit of 850,000 ounces in 2025, driven by a 6% decrease in mining supply and a 6% increase in recycling. Total platinum demand in 2025 is expected to be 7,877 thousand ounces, which is 4% lower compared to the previous year.