Platinum and Palladium to Supplies to Fall Short of Demand in 2015

For the fourth year in a row, platinum and palladium supplies are anticipated to fall short of demand, according to Bloomberg. Citing Johnson Matthey, the news outlet said that increased demand will make up for an increase in output from South African mines following protracted strikes earlier this year.

As quoted in the publication:

Platinum demand will outpace supply by 1.13 million ounces this year and palladium’s deficit will be 1.62 million ounces, according to a presentation of London-based Johnson Matthey’s platinum-group metals report. They would be the biggest shortfalls ever, based on data going back more than three decades for the metals.

A five-month mine strike that ended in June cut output from South Africa, the largest platinum producer and second-biggest for palladium. Supply shortages should continue next year partly as car demand strengthens in North America and China and stricter legislation requires more of the metals to be used in devices that curb harmful emissions.

Click here to read the full Bloomberg article.