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Mineweb reported that CPM Group has predicted that the global platinum supplies will remain in a deficit this year despite the rise in mine production as demand for automobile manufacturing and jewelry is set to rise.
Mineweb reported that CPM Group has predicted that the global platinum supplies will remain in a deficit this year despite the rise in mine production as demand for automobile manufacturing and jewelry is set to rise.
As quoted in the market news,
In its “Platinum Group Metals Yearbook 2015″, CPM Group forecast a global 2015 platinum deficit of 215,000 troy ounces compared with a deficit of 981,000 ounces in 2014.
Platinum fabrication demand, which involves using the precious metal in automobiles, jewelry and electronics, was forecast to reach 7.18 million troy ounces this year, up 2.2 percent from 2014 but below the 7.22 million ounces of 2013.