World Economy

Platinum Market Deficit to Shrink

Platinum Market Deficit to ShrinkPlatinum Market Deficit to Shrink

The platinum market deficit is expected to shrink for a second year in 2016, the World Platinum Investment Council said on Wednesday, as a rebound in supply of recycled metal and falling investment outstrip rising jewelry and automotive demand, Reuters reported. The WPIC, which produces quarterly research on the platinum market in conjunction with SFA (Oxford), predicts a deficit of 135,000 ounces this year, down from 380,000 ounces in 2015. Another shortfall will cut above-ground stocks of the white metal—excluding those held by exchange-traded funds, by exchanges, or as working inventories within the supply chain—to 2.18 million ounces, it said, from 2.31 million in 2015.