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Industry Overview
Total demand for platinum/palladium falls into three broad categories:
· Automotive – used in catalytic converters, spark plugs, and sensors.
· Jewellery – as a substitute for gold.
· Industrial such as:
- Chemical processing;
- General catalyst;
- High-temperature and non-corrosive electrical wires and contacts;
- Glass – dies and process technology;
- Petroleum refining – as a catalyst for crude oil cracking;
- Dental/Medical – equipment and reconstructive; and
- Investment – bullion and coins.
| Platinum (PGE) supply (‘000 oz) |
|
|
|
|
|
|
Platinum
Supply |
2002 |
2003 |
2004 |
2005 |
| South Africa |
4,450 |
4,630 |
4,970 |
5,120 |
| Russia |
980 |
1,050 |
850 |
860 |
| North America |
390 |
295 |
385 |
340 |
| Others |
150 |
225 |
255 |
270 |
| Total Supply |
5,970 |
6,200 |
6,460 |
6,590 |
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|
|
|
|
| Platinum Demand |
2002 |
2003 |
2004 |
2005 |
| Auto catalyst (Gross) |
2,590 |
3,270 |
3,560 |
3,860 |
| (Recovery) |
-565 |
-645 |
-705 |
-800 |
| Jewellery |
2,820 |
2,510 |
2,160 |
2,020 |
| Industrial |
1,545 |
1,380 |
1,535 |
1,615 |
| Investment |
80 |
15 |
40 |
15 |
| Total Demand |
6,470 |
6,530 |
6,590 |
6,710 |
| Movements in Stockpiles |
-500 |
-330 |
-130 |
-120 |
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Palladium (PGE) demand (‘000 oz)
| Palladium Supply |
2002 |
2003 |
2004 |
2005 |
| South Africa |
2,160 |
2,320 |
2,570 |
2,600 |
| Russia |
1,930 |
2,950 |
4,100 |
3,730 |
| North America |
990 |
945 |
1,035 |
925 |
| Others |
170 |
245 |
265 |
285 |
| Total Supply |
5,250 |
6,450 |
7,910 |
7,540 |
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| Palladium Demand |
2002 |
2003 |
2004 |
2005 |
| Auto catalyst (Gross) |
3,050 |
3,450 |
3,720 |
3,690 |
| (Recovery) |
-370 |
-410 |
-535 |
-680 |
| Dental |
785 |
825 |
850 |
860 |
| Electronics |
760 |
900 |
920 |
970 |
| Other |
605 |
655 |
1,525 |
2,050 |
| Total Demand |
4,830 |
5,420 |
6,480 |
6,890 |
| Movement in Stocks |
420 |
1,030 |
1,430 |
650 |
(source: Johnson Matthey July 2006)
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