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Platinum to Record Largest Deficit in 14 Years in 2013
Nov. 12, 2013 12:09PM PST
Precious Metals InvestingReuters reported that according to Johnson Matthey’s Platinum 2013 Interim Review, this year platinum will hit its largest deficit since 1999 on the back of strong investment and industrial demand.
Reuters reported that according to Johnson Matthey’s Platinum 2013 Interim Review, this year platinum will hit its largest deficit since 1999 on the back of strong investment and industrial demand.
As quoted in the market news:
The platinum market is expected to show a shortfall of 605,000 ounces this year from 340,000 ounces last year, it said in its Platinum 2013 Interim Review.
It said a rise in primary and secondary supply, coupled with slower autocatalysts demand and an overhang of above-ground stocks will prevent the metal from returning to record highs of $2,290 an ounce hit in 2008.
Johnson Matthey expects to see platinum prices in a range of $1,360 to $1,580 over the next six months, with an average of $1,465 which is only slightly above current prices at $1,430 an ounce.