Platinum surplus will remain modest despite coronavirus chaos – WPIC

Platinum demand will plummet by
18% this year and supply by 13% as the coronavirus batters the
global economy, leaving the market with a moderate surplus, the
World Platinum Investment Council (WPIC) said on Monday.
In its latest quarterly report, the WPIC revised its
forecast for oversupply this year in the roughly 8-million ounce
platinum market to 247,000 ounces from 119,000 ounces.
All major consumers of platinum – automakers, jewellers,
industry and