Global platinum demand is expected to increase by 5% to 7.7-million ounces this year, owing to a significant increase in investment demand, which should offset weaker demand in the automotive, jewellery and industrial segments, the World Platinum Investment Council (WPIC) said on Wednesday. In its latest ‘Platinum Quarterly’ report, the council pointed out, however, that supply would also likely increase by 5% this year, widening the market surplus, from 645 000 oz in 2018, to 680 000.
