Increased demand from the industrial and jewelry sectors is expected to boost worldwide demand for platinum in 1995 by 4% to a new high of 4.7 million oz.
The estimate is contained in Platinum 1995: Interim Review, published by Johnson Matthey.
The firm says higher shipments of platinum from South Africa, combined with an increase in Russian sales, will raise supply by 360,000 oz. to 4.9 million oz. in 1995. However, market availability for platinum is expected to remain tight, and Johnson Matthey expects the price to range between US$400 and US$440 per oz. during the next six months.
Demand for palladium is forecast to rise by 21% to 5.9 million oz., primarily owing to large increases in consumption by the auto and electronics industries.
Supplies are expected to reach 6.2 million oz. Actual worldwide production is projected at about 4 million oz., with the remainder coming from Russian reserves.
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