SA platinum producers pin hopes on autocatalyst makers
White metal would be cheaper than palladium for catalytic converters
Amid forecasts of a rising surplus in the global platinum market that will keep the metal’s price subdued, South African producers are pinning their hopes on makers of petrol autocatalysts using more of the cheaper metal instead of palladium. Johnson Matthey and the World Platinum Investment Council predict the platinum market will remain firmly in surplus, with the latter forecasting excess supply rising to 680,000oz from 645,000oz in 2018. The council forecast demand for platinum would increase 5% this year to 7.74-million oz on an “expected significant rise in investment demand.” Investment demand was expected to be 530,000oz in 2019, it said. This would offset the decline in demand from the key consumers of platinum, namely autocatalysts for diesel engines, jewellery and industrial uses, the council said. SA production was expected to rise 7% to 4.7-million oz as large producers such as Anglo American Platinum, Impala Platinum and Northam Platinum reduced inventory of metals loc...
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