More Stories

Informist, Monday, May 19, 2025

MUMBAI – The World Platinum Investment Council has raised the expected deficit in the platinum market for 2025 due to upward revisions in global platinum demand and supply risks. The body sees the global platinum market in a deficit of 966,000 ounces this year, higher than the 848,000 ounces projected earlier. This will be the third consecutive year the market will be in a deficit. The market had recorded a deficit of 992,000 ounces in 2024 and 809,000 ounces in 2023.

The council sees global platinum demand in 2025 at 7.90 million ounces, up 115,000 ounces from the previous forecast but down 4% from the previous year. "While risks to international trade have drawn significant focus in the first quarter, lower demand in 2025 is largely due to a cyclical trough in glass demand where capacity additions have slowed in China," the council said in a press release.

The council expects global platinum supply to fall 4% to nearly 7 million ounces in 2025, unchanged from the previous forecast. In the first quarter of 2025, supply from mines declined 13% on year to record its lowest output since the second quarter of 2020.

"Although automotive and industrial demand are expected to contract, it will be partially offset by a recovery in the jewellery market," the council in the release. Global automotive demand for platinum is estimated to fall 2% to 3 million ounces in 2025 and industrial demand is expected to fall 15% to 2.1 million ounces. Jewellery demand is expected to continue the recovery seen in 2024, increasing by 5% to 2.1 million ounces in 2025.

"Although platinum has largely avoided direct tariffs, platinum demand will still be indirectly impacted by tariffs since it is an input used in a diverse range of products imported by the US," the council said.  End

Reported by Ashutosh Pati

Edited by Nishant Maher

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2025. All rights reserved.