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Platinum Market on Track to be Balanced or Even Shift Towards a Deficit-The 21st China (Guangzhou)Int’l Fastener & Equipment Exhibition
1/3/2020 紧固件展-紧固件采购会-国际紧固件展-fastener expo |
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Nornickel, in alliance with ICBC Standard Bank, has prepared a report on platinum markets. This year, the supply of platinum in the market has recovered from its sharp fall last year, supported by stronger production in South Africa. Most of the mines are now profitable as the local currency is depreciating and strike actions have no meaningful impact on output. Industrial demand faltered in response to the shrinking diesel car market in Europe and India and the overall slump in car sales worldwide. Platinum in the jewellery segment also performed weaker this year, mostly after demand slipped in China amid changes in investor preferences and shaky growth of the Chinese economy.
Surplus in the platinum market, i.e. the difference between production and consumption, came in at 741 koz. However, as investment demand went up to reach 1.4 mln oz and ETFs saw an inflow of more than 1 mln oz compared to a net outflow of 2018, the market moved into a deficit for the first time since 2016, with total market balance standing at minus 543 koz.
Next year, overproduction of platinum is expected to shrink, with surplus going down to 543 koz. If demand from investors remains strong, the market may be well on track to be balanced or even shift towards a deficit. Surplus reduction will also be driven by efforts of diesel car producers to ensure compliance with new environmental regulations.
紧固件展-2020第二十一届广州国际紧固件及设备展览会-巨浪展览
-The 21st China (Guangzhou)Int’l
Fastener & Equipment Exhibition
- Fastener exhibition,2020 Fastener
exhibition, China Fastener exhibition, Guangzhou Fastener exhibition, 2020 Fastener
expo, China Fastener expo, Guangzhou Fastener expo
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