The closure of platinum mines in South Africa is likely to lead to the reduction in the global platinum production. The World Platinum Investment Council’s (WPIC) Platinum Quarterly projects that total mining supply for 2018 is expected to decline by 4% to 5,850 koz, mostly owing to reduced output from South Africa following some mine closures in 2017 and lower production in Russia. The report shows that platinum supply and demand will be closely matched in 2018, returning the market to equilibrium (+25koz).
Global platinum supply is forecast to be 7,815 koz in 2018, a decline of 2% from 2017, despite an anticipated increase in recycling of 60 koz to 1,965 koz. Platinum Quarterly is the first independent, freely-available, quarterly analysis of the global platinum market.
This report incorporates analysis of platinum supply and demand for the fourth quarter of 2017, the full year 2017 and a forecast for 2018.