Non-ferrous

Non-ferrous

Base Metals

Rare Earth

Scrap Metals

Minor Metals

Precious Metals

Ferrous Metals

Ferrous Metals

Iron Ore Index Iron Ore Price Coke Coal Pig Iron Steel Billet Finished Steel

New Energy

New Energy

Solar Lithium Cobalt Cathode Material Phosphorus Carbon Anode Separator Electrolyte Battery Cell And Module Battery Recycling Nickel And Manganese Other Materials Sodium-ion Battery Hydrogen Energy

Price Center DatabasePro Reports Events Car Insight

Home / Metal News / SMM Forecast for Platinum and Palladium Demand in 2023

SMM Forecast for Platinum and Palladium Demand in 2023

Feb 22, 2023 13:42

Source:SMM

According to SMM forecast, the total global demand for platinum in 2023 will be 7,770 koz, with a shortfall of 304 koz.

SHANGHAI, Feb 22 (SMM) - According to SMM forecast, the total global demand for platinum in 2023 will be 7,770 koz, with a shortfall of 304 koz. At the same time, the total global demand for palladium in 2023 will be 10,342 koz, with a shortfall of 14 koz.

In detail, largest portion of the demand will emerge in the automotive industry, where the demand for platinum will be 2,975 koz, account for 38.3% of the total demand, and the demand for palladium will be 8,446 koz, accounting for 81.7% of its total. The remaining applications include the jewellery, chemicals and petroleum refining industries.

As a pillar downstream sector when it comes to the demand for platinum and palladium, the automotive sector is expected to see a downturn in the production in the first half of the year, which will pick up in the second half.

Market

Market

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

For queries, please contact Lemon Zhao at lemonzhao@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news

SMM Aluminium Morning Comment (March 8, 2023)

SHANGHAI, Mar 8 (SMM) - The most-traded SHFE 2304 aluminium contract opened at 18,530 yuan/mt overnight before closing at 18,475 yuan/mt, down 195 yuan/mt or 0.89%.

time

Mar 8, 2023 09:19

SMM Aluminium Morning Comment (March 8, 2023)

Unexpected Hawkish Remark from Powell Weighs on Both LME and SHFE Lead Prices

Overnight, LME lead opened at $2,111/mt, and plummeted to the lowest point at $2,072.mt due to the unexpected hawkish remark from Powell, and finally closed at $2,086.5/mt, a decrease of 0.9%.

time

Mar 8, 2023 09:13

Unexpected Hawkish Remark from Powell Weighs on Both LME and SHFE Lead Prices

Halted Explosives Supply Continues to Constrain Iron Ore Mining in Hebei, But Production May Resume after “Two Sessions”

SHANGHAI, Mar 7 (SMM) - In February, the capacity utilisation rates of mines in Hebei showed an upward trend.

time

Mar 7, 2023 13:18

Halted Explosives Supply Continues to Constrain Iron Ore Mining in Hebei, But Production May Resume after “Two Sessions”

Increase in the World's Known Reserves Could Further Depress Lithium Prices, But Variables Deserve Close Attention

As far as the global lithium market is concerned, the increase in the world's known reserves could further depress the price of the metal, which of course ultimately depends on Iran's ability to produce and export lithium, which, unlike other minerals, is expensive and difficult to extract.

time

Mar 7, 2023 10:09

Increase in the World's Known Reserves Could Further Depress Lithium Prices, But Variables Deserve Close Attention

Cold-Rolled Coil Output to Fall as Three Chinese Stainless Steel Mills Plan to Overhaul

According to SMM research, a cold-rolled coil factory in south China started a one-week production suspension for maintenance today.

time

Feb 28, 2023 16:01

Cold-Rolled Coil Output to Fall as Three Chinese Stainless Steel Mills Plan to Overhaul

Henan Province Encourages BF Steel Mills to Transform into EAF Steel Mills

Henan Province Pollution Reduction and Carbon Reduction Synergistic Efficiency Action Plan was issued, proposing to support key industries such as steel, coking, and cement through capacity replacement,

time

Feb 28, 2023 15:00

Henan Province Encourages BF Steel Mills to Transform into EAF Steel Mills

SMM Data on Operating Rates of Chinese Magnesium Ingot Producers

The average operating rate of Chinese magnesium ingot producers in January 2023 was 55.04%, down 2.82% on the month and 22.18% on the year.

time

Feb 9, 2023 16:25

SMM Data on Operating Rates of Chinese Magnesium Ingot Producers

South Korean Stainless Steel Mill Shut down Unexpectedly! Will It Affect Global Supply and China Export?

According to the current production schedule of POSCO, the shutdown is expected to reduce the stainless steel output by around 10,000 mt. However, since the typhoon is not controllable, follow-up changes still need to be monitored.

time

Sep 6, 2022 16:12

South Korean Stainless Steel Mill Shut down Unexpectedly! Will It Affect Global Supply and China Export?

SHFE Nickel Prices Dropped over 3% due to the Weak Demand

As of 9:46 a. m., SHFE nickel prices dropped 3.06%. In the spot market, on August 23, the average price of SMM #1 refined nickel was 181,600 yuan/mt, down 0.16% from the previous trading day.

time

Aug 24, 2022 10:34

SHFE Nickel Prices Dropped over 3% due to the Weak Demand

Petroleum Coke Imports Decreased 31.8% MoM in July, while Total Imports from January to July Increased 222,200 mt YoY

According to customs data, China imported 909,100 mt of petroleum coke in July, a month-on-month decrease of 31.8% or 423,800 mt and a year-on-year decrease of 6.07%.

time

Aug 24, 2022 09:34

Petroleum Coke Imports Decreased 31.8% MoM in July, while Total Imports from January to July Increased 222,200 mt YoY

SMM Events & Webinars

Sep
15
- NET ZERO CHINA Field Trip
  Sep 15 - 19,2025
  中国
Sep
16
- SMM Indonesia Seminar: Li-ion Battery & Energy Storage
  Sep 16 - 16,2025
  Jakarta, Indonesia
Sep
26
- 2025 ASIA BATTERY MATERIAL COOPERATION SALON
  Sep 26 - 26,2025
  Time：9.26 2025 Place：Seoul， South Korea
  Seoul， South Korea

MOST POPULAR

1.China Lithium Market Dynamics and Lithium Procurement Study

2.Battery Recycling Technology Understanding

3.Solid State Battery Market

4. China Scrap Steel Quality Analysis

5.China Scrap Steel Cost Curve

Shanghai Metals Market

Privacy Policy Compliance Centre SMM Credit Service Contact Us About Us Terms & Conditions Sitemap Holiday Pricing Schedule

Notice: By accessing this site you agree that you will not copy or reproduce any part of its contents (including, but not limited to, single prices, graphs or news content) in any form or for any purpose whatsoever without the prior written consent of the publisher.

Drop us a line

service.en@smm.cn

How can we help you?

+86 021 5155-0306

Live chat via WhatsApp

Copyright © 2025 SMM Information & Technology Co., Ltd. All rights reserved.