SMM: South African platinum mining company Anglo-American Platinum Industry released its mid-2020 financial report on July 27th, predicting that the platinum market will enter a shortage this year!
The Anglo-American platinum industry said that while many areas were in the early stages of recovery, there was still a lot of uncertainty and limited visibility a few months later. Due to the impact of Covid-19, mine supply is expected to be greatly reduced this year, while the impact of global recovery is expected to be smaller. PGM demand will be affected by a decline in global car and commercial vehicle sales and production, weak platinum jewellery sales and weak industrial demand. Although demand is affected, we expect platinum, palladium and rhodium to remain in short supply this year.
In the long run, the company will remain committed to expanding the role that platinum group metals can play in achieving a low-carbon economy, and we will continue to lead industrial demand creation in the areas of industrial, investment and jewellery demand.
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