WPIC Anticipates Platinum Market Deficit in 2025
It must be noted that the jewellery demand increased across all regions, except for India during Q1 2025.
SEATTLE (Scrap Monster): The World Platinum Investment Council (WPIC) published its Platinum Quarterly Report for the initial quarter of the year. The report provides a revised full year 2025 platinum market forecast.
The research claims that the strong demand for investments in the first quarter of this year caused the demand for platinum worldwide to rise by 10% to 2,274 koz. In the meantime, due to seasonal slowdown in mine production, the overall platinum supply saw a 10% year-over-year fall to 1,458 koz. The quarter's market deficit was 816 koz, the largest quarterly deficit amount in over six years.
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WPIC predicts that the total supply will drop by 4% to 6,999 koz for the entire year 2025, the lowest level in five years. In 2025, demand is predicted to drop by 4% to 7,965 koz, resulting in the third consecutive year of a deficit.
The demand for platinum jewelry is predicted to continue to recover in 2025, increasing by 5% annually to 2,114 koz. It should be mentioned that during Q1 2025, demand for jewelry rose in every area but India.
The CEO of WPIC, Trevor Raymond, stated that there is a structural shortfall in the platinum market. He pointed out that the mine supply still faces downside risks even if the variety of demand for platinum offers a considerable amount of resilience.