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'Muted' growth in platinum recycling supply

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The World Platinum Investment Council (WPIC) has increased its platinum deficit forecast for this year by some 64 000 ounces because it sees 'little evidence' to support rising output over the medium term.

‘The predicted strong growth in platinum supply from recycled autocatalysts, argued by some as potentially weakening platinum’s solid fundamentals, has not materialised,’ the WPIC says in its latest quarterly update. ‘While growth in recycling supply is still likely, it remains muted due to the ongoing low scrap steel price and reduced rates of car scrapping.’

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