The supply of platinum globally, has declined by 3% to 7,027 koz. Total demand is set to decline by 4%, outstripping supply by 850 koz.
This is a record low in 5 years.
This emerged from the World Platinum Investment Council (WPIC) second quarterly report for 2025.
Platinum jewellery demand is expected to rise to a staggering 11% to 2,226 koz this year, its highest level since 2018, as China growth accelerates.
Tariff-related market uncertainty has driven a decline in automotive demand forecast, to contract 3% to 3,033 koz for 2025.
Industrial demand is expected to dip to 1,901 koz in 2025 as substantive, cyclical glass capacity expansions reduce.
Trevor Raymond, CEO of the World Platinum Investment Council, said “platinum has broken out of its post-pandemic trading range to be the top-performing commodity in the first six months of 2025, outpacing gold, silver and broader asset classes. Its price rose dramatically in the second quarter, and in July it reached a ten-year high of US$1,450 per ounce.”
Picture: Speciality Metals