Article/video - Platinum moving into meaningful deficit Smart people, GENM partners Wheaton.
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Platinum moving into meaningful deficit amid emergent source of new end-demand
World Platinum Investment Council Director of Research Edward Sterck interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.
22ND NOVEMBER 2022
BY: MARTIN CREAMER
CREAMER MEDIA EDITOR
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JOHANNESBURG (miningweekly.com) – Platinum is moving into meaningful deficit amid an emergent source of new end-demand in the form of green hydrogen.
The 2022 surplus of 804 000 oz is projected to move into a deficit of 303 000 oz in 2023, according to the Platinum Quarterly of the World Platinum Investment Council (WPIC) for the third quarter of 2022.
https://www.miningweekly.com/article/platinum-moving-into-meaningful-deficit-amid-emergent-source-of-new-end-demand-2022-11-21 "
. There are a number of factors there. I think the demand for platinum from the automotive industry should be set to continue to grow going forwards, partially driven by the increased production of hybrid vehicles, and also higher platinum for palladium substitution in gasoline vehicles. If we look back at the last decade, there was a lot of effort to remove platinum and substitute in palladium and that was on price sensitive factors when palladium was trading below platinum. That situation has now reversed and automakers have been looking to substitute platinum for palladium in order to try and reduce their costs."