Wednesday October 22, 2014, 9:07am PDT

According to an article from Seeking Alpha, platinum could still stand to swing into a bull market this year on the back of shrinking resources and slowing production from South Africa. Analysts from J.P. Morgan and Standard Bank see stockpiles that have stopped prices from rising as of late are rapidly being depleted.

As quoted in the publication:

"Pt prices need to rise substantially to incentivize increased production that would be necessary to offset continued global growth in demand – driven predominantly by the autocatalyst sector, which is forecast to continue to expand in terms of both catalytic converter units and PGM loading per unit, as detailed by Standard Bank Group in their report from April this year. J.P. Morgan projects an average price for platinum in 2015 of $1638/oz. – with the price rising each quarter next year – a very bullish projection.

In 2016, the analysts anticipate platinum to average $1850/oz. Their longer-term price is $2000/oz., based on the minimum estimated price to incentivize the development of a new deep-level South African mine.

Click here to read the full article.