UNITED KINGDOM September 09 2016 3:36 PM

LONDON (Scrap Register): The World Platinum Investment Council has revised its supply deficit forecast for 2016 up 16% to 16.2 mt, from 14.2 mt previously.

Total demand for 2016 was expected to increase 2% year on year to 256.6 mt, while total mining supply was forecast to fall 3% to 240.4 mt.

Weaker than predicted total supply for full-year 2016 is largely due to a lower forecast for recycling growth forecast, which was expected to increase at 2% to 54.3 mt in 2016, the report said.

Automotive and jewelry demand are expected to be little changed, at 105.4 mt and 89.7 mt, respectively, for the full year.