A Comprehensive Review of the Platinum Market
The demand and supply of platinum during 1992 were quite evenly balanced with only a small surplusof 20,000 ounces. Overall, however, demand declined by 6 per cent to 3.8 million ounces although some sectors saw a rise in platinum sales.
Platinum jewellery reached a record 1.51 million ounces troy, assisted by a rise in the sale of wedding rings in the U.S.A., escalating demand in Japan for “low-priced” jewellery and anexpanding interest in Swiss platinum watches.
Consumption of platinum and rhodium by the auto industry showed a significant increase over 1991 figures, although this was off-set by supplies being taken from manufacturer’s strategic reserves which resulted in lower purchases in the market. Platinum demand in 1993 is expected to increase by at least 200,000 ounces, as both the European Community and the U.S.A. are applying more stringent controls to lower the level of pollutants emitted from motor vehicles. With countries in Eastern Europe, Southeast Asia and South America gradually adopting emission standards and with the North American vehicle market gaining strength as the recession recedes, the outlook for 1993 is that there will be an increase in platinum group metal sales.
Covering many aspects of the platinum group metals, with particular emphasis on platinum, there issomething of interest for most people: from mining and exploration, to applications in the chemical, electrical and glass industries, petroleum refining and biomedical products, platinum investment barsand coins. Past, present and perceived future market trends for each sector are given. All this andmore is contained in Johnson Matthey’s prestigious annual publication “Platinum 1993” which is in its 9th year of publication.
Readers of Platinum Metals Review who do not have access to “Platinum 1993” and who would like to receive this free survey should send their requests for a copy to: Mr J. S. Coombes, Johnson Matthey PLC, 78 Hatton Garden, London EC1N 8JP; Fax: 071-269-8135.