After resurgent demand pushed the platinum market into deficit in 2019, with the total volume of platinum under investment coming in at a record 3.4-million ounces at the start of this year, speciality chemicals company Johnson Matthey says the platinum market could move back into surplus this year unless investor appetites are sustained.
Last year, more than one-million platinum ounces were added to exchange-traded fund holdings, outweighing a contraction in global industrial and automotive demand, as well as a double-digit drop in the Chinese platinum jewellery market.