Precious Metals:Data & Statistics
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.