Platinum supply down as demand increases
- Published: Jun 20, 2018, 5 AM
The World Platinum Investment Council reports the global platinum supply relative to demand was in a deficit during the first three months of 2018. Despite that, compared to the final three months of 2017, investment demand was down 26 percent.
The U.S. Mint has yet to announce when it plans to offer the 2018 American Eagle 1-ounce platinum bullion coin to its authorized purchasers, or how many coins will be made available. The Mint quickly sold out of its 2017 allocation of just 20,000 coins, with the buying public wanting more.
Inside Coin World: Mint’s heritage assets are slowly coming to light Some of the U.S. Mint’s greatest treasures, its “heritage assets,” are slowly coming out of the vaults and into the open for collectors to marvel over.
Against an overall supply at 1,850,000 ounces of platinum, overall platinum demand reached 1,975,000 ounces during the first quarter of 2018, from automotive, jewelry, industrial and investment sectors, creating a 125,000-ounce supply deficit.
Total mining supply was recorded as 1.4 million ounces during the first quarter of 2018, with South Africa leading the way at 985,000 ounces. The mining supply was 220,000 fewer ounces than the 1.62 million ounces reported as the fourth quarter 2017 mining supply total.
The total overall supply of 1.85 million ounces (including supply from recycling scrap jewelry, industrial applications and automobile catalytic converters) was down 290,000 ounces from the same measure in the fourth quarter of 2017.
Connect with Coin World:
MORE RELATED ARTICLES
US Coins May 24, 2022, 1 PM
World Coins May 24, 2022, 1 PM
Paper Money May 23, 2022, 12 PM
US Coins May 23, 2022, 11 AM