Platinum’s Bull Run Faces a Turning Point

The market for platinum is experiencing a period of extraordinary tightness, and the company now known as Valterra Platinum—formerly Anglo American Platinum—has been a primary beneficiary. However, analysts are questioning whether the record-setting rally for this pure-play producer can sustain its momentum as forecasters predict a significant shift in the market’s fundamental balance.

A persistent and substantial supply deficit has been the dominant story for platinum. According to the World Platinum Investment Council (WPIC), the market is headed for its third consecutive year of shortfall in 2025, with a projected deficit of 692,000 ounces. This sustained imbalance has dramatically drawn down above-ground stocks, which are estimated to fall to Read more...