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Paul Walker Says Platinum Oversupply Requires Game Changing Demand
May. 04, 2012 02:30PM PST
Precious MetalsMining Weekly reported the global glut of platinum will require a significant change in demand to see any impact in prices through 2012.
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.