Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

De Beers’ GemFair ropes in more than 160 Sierra Leone artisanal miners

De Beers inaugurated its GemFair pilot programme in Sierra Leone’s Kono District with 14-member mine sites in 2018 to create a secure route to market for ethically sourced artisanal and small-scale diamonds. GemFair programme manager Ruby Stocklin-Weinberg...

16 august 2021

WPIC: Platinum set for third year of deficit as industry demand surges

18 may 2021
The World Platinum Investment Council (WPIC) said on 17 May that the global platinum market will be more undersupplied this year than it previously thought as economic recovery fuels a surge in demand from industry, says a Reuter report. 
Platinum is used by automakers, who embed it in vehicle exhausts to neutralise harmful emissions, by other industries such as glassmaking and for jewellery and investment.
The roughly 8 mn ounces a year market will see a shortfall of 158,000 ounces in 2021, the third consecutive annual deficit, the WPIC said in its latest quarterly report.
Three months ago it forecast undersupply of 60,000 ounces in 2021.
Consumption of platinum by industry and jewellers plunged last year as the coronavirus swept the globe, but the pandemic also disrupted supply and fuelled massive demand from investors looking for a safe place to put their money.
According to WPIC, that left the market undersupplied by 863,000 ounces in 2020, the biggest deficit on record. This year, demand from auto manufacturers and industry will rise above 2019 levels, with consumption by glassmakers in particular rocketing.
Jewellery demand will recover but remain below pre-pandemic levels, while purchases by investors will fall from last year's record but remain strong by historical standards. Supply will also rise but remain lower than in 2019.
WPIC says platinum fell to an 18-year low of $558 an ounce last year as the coronavirus spread. It has risen to around $1,200 but remains significantly below its highs between 2008 and 2014.
Many analysts and investors expect further price gains in the years ahead as demand, including from the nascent hydrogen industry and automakers switching to platinum from more expensive palladium, outpaces supply.

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished