2012 Platinum Shortage Clocks in at 375,000 Ounces

Bloomberg reported that last year, platinum saw a shortage of 375,000 ounces, the biggest since 2002, largely due to strikes and work stoppages in South Africa, as per information in a report released today by Johnson Matthey.

As quoted in the press release:

The platinum shortage was 375,000 ounces last year and a “slight deficit” is possible this year if investment continues to grow, London-based Johnson Matthey said today in a report. Platinum supply fell 13 percent to 5.64 million ounces, as total demand declined 0.6 percent, it said. Lower palladium sales from Russian state stockpiles and constrained output in Russia and South Africa is “a recipe for an under-supplied market” and higher prices, Johnson Matthey said.

Click here to read the full Bloomberg report.