WPIC: The Global Platinum Market Will Remain in Deficit for a Fourth Consecutive Year in 2026

Published: Mar 5, 2026 10:13

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The latest report released by WPIC on March 4 showed that by 2026, the global platinum market would face a deficit for the fourth consecutive year, with a shortfall of 240,000 troy ounces (about 7 mt). Current above-ground stocks could meet just over four months of market demand. In terms of supply, mine supply remained stable (173 mt), while recycling volume rose 10% to 57 mt; with no major new mines coming on stream, supply elasticity was extremely low. Demand side, industrial demand rebounded 11%, investment demand surged 35% to 23 mt (a new record), while demand in the automotive and jewelry sectors edged down slightly.

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