Even though average loadings per catalyst are falling and some manufacturers are using other solutions besides PGMs. SocGen expects a new and replacement demand for vehicles from emerging and mature markets respectively will continue to be a rising source for PGM demand in 2014. 

 

As a consequence, we forecast platinum demand from this industry to rise 6% to around 3 million oz this year, also supported by a continued recovery in Europe and the recently implemented more stringent Euro 6 emissions legislation, whereas palladium is set to rise by a more modest 3% to 6.2 million oz, said SocGen.