London—Platinum markets are forecast to suffer a 10% drop in demand next year, the World Platinum Investment Council said Thursday. “Investment demand in 2020 remains strong but is well below the record level in 2019 and despite a fall in mining supply will still result in a sizeable surplus in 2020,” said the industry lobby group in its latest quarterly market report. WPIC now predicts a 670,000 oz surplus of the white metal next year, which includes a 10% drop in overall demand. Despite falling platinum demand from the jewelry, industrial and automotive sectors, the WPIC still expects consumption to be up 2% in 2019.
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