The global platinum supply deficit is forecast to narrow sharply this year and next as demand flattens and then falls. Lower demand will offset, to an extent, the decline in supply, most notably in SA, and the removal of a glut of Chinese recycled platinum jewellery, according to data released by the World Platinum Investment Council. The council said, based on research it commissioned from SFA Oxford, the world market would be in a 170,000oz deficit this year and 100,000oz deficit next year. This compares with a 360,000oz shortfall last year and more than 700,000oz in each of the two preceding years. The council, up two years ago by six South African platinum mining companies, is mandated to release data regularly to the market and encourage investment in the industrial and precious metal. This year, total global platinum supply is forecast to fall to 7.87-million ounces from 7.905-million ounces last year, mainly because of declines from SA, where mines are temporarily shut by the...
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