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- Author of the entry: Mennica Skarbowa
- Date of entry:
According to the latest forecast by Oxford-based consulting agency SFA, a significant deficit is expected on the global platinum market in 2018. This is a dramatic change from the current year, which saw a balance achieved for the first time in five years.
According to an independent report published by the World Platinum Investment Council, next year will bring a significant increase in demand for platinum and a further decline in its supply. This means a return to the situation seen between 2012 and 2016, when market demand consistently exceeded the amount of metal available from mining and recycling.
Demand from industry will be driven primarily by the oil refining and glass manufacturing sectors. The increase—compared to the "difficult" year of 2017—is expected to reach as much as 9.1%.
For the third consecutive year, mining productivity will decline—this time by 1.4%. As a result, production will fall to its lowest level since the crisis in 2014, when South African mines were hit by a five-month strike.
SFA experts estimate that the negative balance in the platinum sector will lead to a revival of the global jewelry market with its addition. As for the long-term effects of the projected deficit, it is likely to result in an even greater reduction in the availability of terrestrial metal reserves.
According to an independent report published by the World Platinum Investment Council, next year will bring a significant increase in demand for platinum and a further decline in its supply. This means a return to the situation seen between 2012 and 2016, when market demand consistently exceeded the amount of metal available from mining and recycling.
Demand from industry will be driven primarily by the oil refining and glass manufacturing sectors. The increase—compared to the "difficult" year of 2017—is expected to reach as much as 9.1%.
For the third consecutive year, mining productivity will decline—this time by 1.4%. As a result, production will fall to its lowest level since the crisis in 2014, when South African mines were hit by a five-month strike.
SFA experts estimate that the negative balance in the platinum sector will lead to a revival of the global jewelry market with its addition. As for the long-term effects of the projected deficit, it is likely to result in an even greater reduction in the availability of terrestrial metal reserves.
