Platinum rose above $1,500 per ounce in late September, its highest level since July 2014, as concerns over supply-demand imbalances deepened, reflected in steep backwardation in the futures market. Supply pressures stemmed from falling mine output and sluggish recycling, with the World Platinum Investment Council projecting South Africa’s mine supply to drop 6% this year. While recycling has picked up slightly, volumes remain at historically low levels, leaving total platinum supply expected to fall 3% to 7.03 million ounces in 2025. Valterra Platinum CEO Craig Miller also warned that global primary production of platinum group metals could decline 20% by decade’s end. On the demand side, industrial use has weakened amid slower automotive output and subdued industrial activity, but investment demand has surged. WPIC further sees jewelry demand climbing 11% to 2.23 million ounces in 2025, supported by a rebound in China’s jewelry sector.
作者：Jam Kaimo Samonte，文章来源tradingeconomics，版权归原作者所有，如有侵权请联系本人删除。
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