WPIC – Platinum Quarterly, Q4 2024

Summary

The main theme of the report is the analysis of platinum supply and demand for the fourth quarter of 2024, final estimates for 2024, and an updated forecast for 2025.

Key findings include a platinum deficit of 995 thousand ounces in 2024, mainly due to weak recycling supply and strong investment demand. Total platinum supply in 2024 increased by 3% compared to the previous year, reaching 7,293 thousand ounces, but remains constrained. Total platinum demand in 2024 was 8,288 thousand ounces, up 5% from 2023. The deficit in 2025 is projected to be 848 thousand ounces, also linked to investment flows and recycling weakness.

Region: Global

Published: March 2025

Author(s): World Platinum Investment Council

Language: English

Tech drivers: AI Mobile

Social drivers: Pandemics

Geopolitical drivers: Economic conditions International relations and treaties Regulatory changes Supply chains disruption

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