The World Platinum Investment Association predicts that there will be an oversupply in the platinum market by 2026, which will turn into an oversupply this year

The World Platinum Investment Association report shows that due to a decrease in investment demand by 601000 ounces, it is expected that the global platinum market will shift from a shortage to an oversupply of 265000 ounces by 2026. In the second quarter, platinum supply was 1.906 million ounces and demand was 1.663 million ounces, resulting in a surplus of 244000 ounces. After three consecutive years of shortages, the platinum market will turn into oversupply this year. Platinum prices have fallen by more than one-third from their peak of $3000 per ounce in January. The World Platinum Investment Association currently predicts an oversupply of 8.2 tons by 2026.