Global platinum market on track to post largest supply deficit on record

The global supply of platinum is expected to significantly fall short of demand this year, with the World Platinum Investment Council forecasting a record deficit, along with a rise in industrial demand to an all-time high.

The global platinum market is expected to post a deficit of 1.071 million ounces for 2023, with total year-on-year demand growth of 26% to 8.150 million ounces, while supply is seen down by 3% year-over-year to 7.079 million ounces, according to a quarterly report the World Platinum Investment Council (WPIC)…