Thrifty Banker
  • Politics
  • Business
  • World
  • Investing
  • Politics
  • Business
  • World
  • Investing

Thrifty Banker

Investing

Edward Sterck: Platinum Facing Record Deficit, What’s Holding Back the Price?

by September 15, 2023
September 15, 2023
Edward Sterck: Platinum Facing Record Deficit, What’s Holding Back the Price?

In its latest quarterly report, the World Platinum Investment Council (WPIC) forecasts that the platinum market will hit a deficit of over a million ounces in 2023 as demand jumps by 27 percent year-on-year and supply stays flat.

Looking first at demand, he said automotive, industrial and investment demand are all expected to rise this year, even against the uncertain economic environment that’s continuing to affect many parts of the world.

Demand also looks promising in the long term. Although the rise of electric vehicles is driving questions about platinum usage in the automotive sector, Sterck said internal combustion engine (ICE) vehicles aren’t going away just yet.

‘We’ve done a lot of work on this, and our view is that not all vehicle roles and not all geographies are suitable for battery electrification with current technologies,’ he said, adding that the WPIC doesn’t expect peak platinum demand until 2028.

Even at that point the organization expects usage to taper off only gradually. That’s partially because of the transformative role of green hydrogen may play in the platinum market — green hydrogen can be used to power fuel cell electric vehicles, and platinum is used in the complex process of making green hydrogen. ‘In the future as ICE declines, it’s likely that the fuel cell electric vehicles will take up the slack. In fact, we think they’ll end up using way more platinum overall,’ said Sterck.

Against that backdrop of rising demand, platinum mine and recycling supply are both set to remain flat this year. And yet prices for the precious metal have remained persistently rangebound between US$900 and US$1,100 per ounce.

Sterck said part of the problem is that buyers have had to deplete existing platinum industries.

‘If you do the math, they should have pretty much run through those inventories now. So coming through the second half of this year we’ll have to wait and see what happens — perhaps platinum will begin to reflect the true underlying value,’ he said.

Watch the interview above for more from Sterck on the platinum sector.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com
0
FacebookTwitterGoogle +Pinterest
previous post
Aaron Rodgers says surgery ‘went great’ following season-ending Achilles injury
next post
When and How to Take a Long Position (Updated 2023)

Related Posts

How to Invest in Potash (Updated 2024)

April 11, 2024

BriaCell Awarded National Cancer Institute Grant to Advance...

August 29, 2023

Investment Protection Agreement with the Ecuador Government on...

May 28, 2025

The Trader’s Flashlight in a Market Fog: What...

April 15, 2025

Gold Price Tumbles on Latest US CPI Reading

March 16, 2024

White Gold Corp. Intersects Broad Zones of Near...

September 8, 2023

Atico Mining

September 2, 2023

5 Best-performing Canadian Pharma Stocks (Updated January 2025)

January 12, 2025

Phase 1 Drill Program – Operational and Geological...

May 28, 2025

Edward Sterck: Platinum on Track for Record Deficit,...

November 29, 2023

    Sign up for our newsletter to receive the latest insights, updates, and exclusive content straight to your inbox! Whether it's industry news, expert advice, or inspiring stories, we bring you valuable information that you won't find anywhere else. Stay connected with us!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Popular

    • 1

      Understanding Lithium Mineralogy from an Investment Perspective

      September 12, 2023
    • 2

      Top 10 Countries for Natural Gas Production (Updated 2024)

      April 6, 2024
    • 3

      US Capital Global Facilitates $50MM Financing to Accelerate Charbone Hydrogen’s North American Expansion

      June 6, 2025
    • 4

      A GOP operative accused a monastery of voter fraud. Nuns fought back.

      January 3, 2025
    • 5

      Crypto Market Recap: Strategy Eyes US$1B Raise for Bitcoin Push, UK Regulator Reverses ETN Ban

      June 6, 2025
    • 6

      Israel confirms it is arming Hamas rivals in operation opposition calls ‘complete madness’

      June 6, 2025
    • 7

      China’s aircraft carriers send message in the open Pacific for the first time – and bigger and more powerful ships are coming

      June 16, 2025

    Categories

    • Business (1,065)
    • Investing (2,099)
    • Politics (2,977)
    • Uncategorized (20)
    • World (3,409)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: thriftybanker.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 thriftybanker.com | All Rights Reserved