ANGLO American Platinum (Amplats), the world’s biggest platinum producer, said yesterday that the supply and demand balances of the three main platinum group metals (PGMs) were likely to be in small deficits in 2023.
The Anglo American majority- owned group said in its 2022 results released yesterday that platinum’s underlying surplus had fallen in recent years, as supply had underperformed, while autocatalyst demand had improved.
“In 2023, whether it is in surplus or deficit would depend on the direction of investment demand; a return to more historically normal investor inflows would mean it will be in a small deficit,” it said.
“Palladium is set to see surpluses in the next few years, but in 2023 weak mine supply and robust automotive demand should keep it a deficit, albeit much smaller…