Fourth consecutive platinum market deficit forecast for 2026 - supply to fall short of demand by 297 koz

LONDON, May 18, 2026 /CNW/ -- Trevor Raymond, CEO of the World Platinum Investment Council, comments:

Edward Sterck, WPIC Director of Research, highlights key findings from the latest Platinum Quarterly report for Q1 2026

"Platinum's fundamentals remain attractive to investors. The market continues to be undersupplied, and, despite geopolitical headwinds in the Middle East, platinum demand is well insulated. Incoming emissions regulations are supportive of automotive demand, while a renewed focus on regional energy security is reinvigorating interest in hydrogen technologies, a longer-term demand accelerant. We are also seeing platinum already playing a vital role across many technologies underpinning the rollout of AI infrastructure – from optical communications to data storage."

• Forecast deficit in 2026 deepens to 297 koz
• Further depletion of above ground stocks - just under three months' worth of cover to meet global demand now expected by the end of 2026
• Total bar and coin investment demand growth to maintain momentum, rising 27% to 718 koz in full year 2026, propelled by a strong first quarter and growth across all regions
• Total platinum demand is expected to reduce 9% year-on-year to 7,674 koz, predominantly because last year's significant exchange stock and ETF inflows are not expected to reoccur
• Strengthening industrial demand, increasing 9% to 2,238 koz, on the resumption of glass capacity expansions, partially offsets lower automotive and jewellery demand (-2% and -12%, respectively)
• Total platinum supply to increase by 2% as recycling grows 9%, incentivised by higher prices, while mine supply is projected to be flat

The World Platinum Investment Council - WPIC® - today publishes its Platinum Quarterly for the first quarter of 2026 with a revised full year 2026 forecast.

View the full press release.

Disclaimer 
Neither the World Platinum Investment Council nor Metals Focus is authorised by any regulatory authority to give investment advice. Nothing within this document is intended or should be construed as investment advice or offering to sell or advising to buy any securities or financial instruments and appropriate professional advice should always be sought before making any investment.

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SOURCE World Platinum Investment Council (WPIC)

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