Global platinum supply tightest for a decade

Market for key electrolyser metal swings into deficit as demand surges and supply drops, says World Platinum Investment Council

The global market for platinum, a key ingredient in electrolysers, is heading for its biggest supply crunch for a decade as demand surges while production falls and recycling rates remain sluggish, according to the industry-backed World Platinum Investment Council (WPIC). The WPIC has revised up its forecast of the size of the global supply deficit by 77pc, compared with its forecasts three months ago, on the back of a surge in demand from investors as well as “strong demand growth momentum” in the automotive and industrial sectors. Total demand this year is expected to show stronger year-on-year growth than the previously forecast 28pc, while supply is expected to fall to 1pc below the alre