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Informist, Friday, Jun. 27, 2025

 

NEW DELHI – The global platinum market, which is projected to record its third consecutive deficit this year, is expected stay in deficit every year till 2029, the World Platinum Investment Council said in a release. The platinum market is expected to be in a deficit of 966,000 ounces in 2025, unchanged from the council's previous forecast.

 

The market had recorded a deficit of 992,000 ounces in 2024 and 896,000 ounces in 2023. The council expects global platinum supply to fall below 7 million ounces this year. Demand is projected to be down 4% on year in 2025, "...due to cyclicality within the glass manufacturing industry--significantly fewer new glass production facilities are due to be commissioned in 2025," the release said. Glass demand for platinum is projected to be down 58% on year to 289,000 ounces.

 

"We believe both supply and demand to be relatively price inelastic, meaning that quantities of either are unlikely to fluctuate much when the price changes, at least in the near term, and this presents an attractive investment opportunity," the release said. The council said that there is a potential for growth in demand, mostly by upside potential to investment and jewellery demand.

 

Exceptionally high gold prices has had an impact on sales of gold jewellery, which were down 32% on year in China in the first quarter of 2025. This has contributed to strong platinum jewellery fabrication which increased 26% on year in the same quarter. "In Europe and North America, both big white gold markets, the retail price of white gold jewellery is at a premium to platinum jewellery, which is also acting to further accelerate platinum jewellery sales," according to the release.

 

Platinum's unique properties and associated uses in a diverse range of end markets help to mitigate the negative impacts of trade barriers and the associated potential negative impact on global GDP growth rates. "As a result, the impact of tariffs on the 2025 platinum demand outlook is less than might be expected," it said.  End

 

Reported by Ashutosh Pati

Edited by Akul Nishant Akhoury

 

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