Market forecast PGMs
The ongoing strikes in South Africa are threatening the world’s supply of platinum group metals (PGMs).
At Bloomberg’s Precious Metals Forum, London, Peter Duncan from Johnson Matthey presented a forecast for the PGM market in 2014. Rhiannon Garth Jones picks out some key facts and ﬁgures. Graphs charting supply of PGMs from 2010–2014
- 80% of global palladium supply is controlled by Russia and South Africa.
- Russia’s stock sales of palladium are expected to be exhausted by the end of 2014.
- Around 10,000oz of platinum production and 5,000oz of palladium are lost for each day the South African strikes continue.
- 2014 is expected to be another record-breaking year for Chinese jewellery demand for platinum.