Platinum Shortage?

June 1998

Precious Metals:Data & Statistics

Platinum Shortage?

Platinum Shortage? Demand for platinum could outstrip supply this year for the first time since 1988, according to Johnson Matthey, the international platinum refiner and supplier.

JM predicts demand will rise to a record 5.09 million ounces, while supply will be about 4.77 million ounces. The reason: strong growth in platinum jewelry markets in China and the U.S., more demand for platinum in industrial applications and possible growth in investor interest, says JM.

Platinum producers in South Africa are operating at near capacity, so the battle that could arise for platinum will likely be won by whoever has the most money to buy the available supply. Prices are expected to rise from about $413 per ounce now to about $450 throughout the rest of the year, Alison Cowley told the Business Times, a newspaper in South Africa.






Copyright © 1998 by Bond Communications.


 

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