2019 Year Jewelry Industry Information-Strong investment demand in the global platinum market


Jewelry Industry Platinum Demand Information:

6 September 2019, London : the world platinum investment council ( WPIC ) today released its second quarter 2019 platinum quarterly, revising its 2019 full-year forecast and 2018 reality.

The report forecast a 9% jump in total platinum demand in 2019 due to strong investment demand, offsetting forecasts of a 4% fall in automotive demand and a 5% fall in jewelry demand. ETF holdings surged 22.4 tonnes, leading to an unprecedented 26.5 tonnes of investment demand in the first half of 2019.

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    The report predicts that demand will grow faster than supply, reducing the market equilibrium to 11 tonnes in 2019 from a previously forecast surplus of 11.7 tonnes.

Demand from the Chinese market continues to decline, and the jewelry sector continued to decline further this quarter, down 933 kg from the same period last year. Declines in other industrial sectors offset increases in demand for chemical catalysts and platinum in glass manufacturing, with industrial demand rising only slightly year-on-year in the second quarter of 2019.

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    Most precious metals ETF have seen inflows this year, with platinum in the spotlight. Institutional investment demand has also seen an unprecedented start to the year, with ETF purchases of 22.4 tonnes in the first half of 2019.