Published: 12 November 2013

Zimbabwe is expected to contribute significantly to the 1.6% rise in platinum supplies to 5.74 million ounces, this is according to Johnson Matthey's latest market review of supply and demand for the platinum group metals 'Platinum 2013 Interim Review.'

The report forecast platinum supplies from South Africa to rise by less than 1% to reach 4.12 million ounces in 2013. Production losses due to one-off factors such as strikes and safety stoppages totalled around 100,000 oz in the first half. Further strikes or stoppages in the final quarter of 2013 could eliminate any increase in South African supplies.

"Strong offtake by industrial users and investors will lift gross platinum demand by 4.9% to 8.42 million ounces. Recycling of platinum will grow slightly to 2.08 million ounces," said the report.

World supplies of palladium are expected to decline by 1.5% to 6.43 million ounces in 2013, due to a drop in sales from Russian government stocks to 100,000 oz.

There will be a marginal recovery in South African shipments of palladium, while production from Zimbabwe will rise strongly due to another round of mine expansion.

- businessdaily

You might also want to read this

• Zimbabwe platinum miners owed millions
• Zimbabwe to unveil platinum policy
• Global platinum market headed for surplus
• $4.2bn platinum deal on schedule
• Govt steps up platinum value addition efforts
• GPR, Chinese partner revive $1,7bn platinum plan
• Zimbabwe's $4,2bn game changer, 90 000 jobs
• Zimbabwe signs $4.2bn platinum deal
• $400m for Darwendale platinum project
• Great Dyke to build $400m processing plant in Zim