Britain the world's largest processors of platinum group metals Johnson? Maffei Corporation (JM), general manager of Dimumulei held recently in New York Stock Exchange trade fund (ETF) Securities issued a report forecasts the annual meeting of precious metals, the world's platinum supply and demand situation will surplus from 140,000 ounces last year to reverse the deficit for this year's 630,000 ounces. Mainly due to increased demand this year will help guide the market ETF physical distribution of platinum on the rise.
The report predicts that by 2010 the global automotive catalyst demand remains weak, but will rebound in 2011. However, diesel cars in Europe will increase the catalyst. Although diesel cars in Europe before the preferred platinum catalyst, but as the technology continues to improve in the future replace the platinum palladium consumption will tend to increase. But European Spot platinum demand continues to increase because the market share of diesel cars will rise from 40% to 50%, which led to increased consumption of platinum.
Other industrial sectors and global stock compression is also nearing completion, especially this year, glass, chemicals, electronics and pharmaceutical industries will be significant growth in demand. However, demand for platinum jewelry industry is still weak. The Company believes that Chinese demand may not keep up this pace, it did not replenish inventory in 2009.
While the supply side, the main producer South Africa, on the one hand facing the challenges of currency rand exchange rate, on the other hand, also face rising production costs, such as the plight of electricity, so the limited output growth this year. South African platinum production accounts for about 75% of the world, mainly from joint company, while Russia supplies 15% of the world also accounted for.
Looking next 2 to 3 years with the gradual recovery in the world auto industry and the European diesel car engine catalysts continuous improvement of market share, which will lead to strong growth in platinum demand. And China's auto industry will continue to grow and develop.
But in any case, the future of palladium catalyst in the light vehicle engine market share will tend to increase consumption, but platinum will never quit, and will go hand in hand with palladium. In the medium term forecast, demand for platinum jewelry industry tend to rise, but the view from the forward market will no doubt be subject to price constraints, but will increase the total trend. Future platinum supply will stabilize the market expanded, but still related to labor skills, electricity production and transmission, workers safety and health, water supply and the strong rand exchange rate issues in the situation.
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