Paul Walker Says Platinum Oversupply Requires Game Changing Demand

Mining Weekly reported the global glut of platinum will require a significant change in demand to see any impact in prices through 2012.

As quoted in the market news:

Visible platinum stocks rose to 4.5-million ounces in 2011 and could rise to more than 5-million ounces by the end of this year. Headline supply stood at 7.97-million ounces, while fabrication demand was 7.23-million ounces, resulting in a gross surplus of 735 000 oz in 2011. Although the surplus shrunk from 962 000 oz in 2010, GFMS said it remained substantial by historical standards.

Click here to read the full Mining Weekly report.