WPIC – Structural Deficit, Jun 2025

The main theme of the report is the structural deficit in the platinum market.

Key findings include: The platinum market is experiencing a deficit as supply does not meet demand. The deficit is expected to continue until 2029. Platinum supplies are at a multi-year low due to asset restructuring and reduced capital expenditures. Demand for platinum remains relatively stable despite cyclical fluctuations in some industries such as glass manufacturing. There is potential for growth in investment and jewelry demand, especially in China.