Platinum Shortage Widens With Palladium on Tight Supplies

Supply shortages for platinum and palladium will be the largest in more than three decades this year on stronger demand from car companies and restricted supplies, Johnson Matthey Plc said.

Platinum consumption will beat supply by 1.22 million ounces, compared with 940,000 ounces in 2013, London-based Johnson Matthey said in its platinum-group metals report. Palladium’s deficit will expand to 1.61 million ounces, from 371,000 ounces last year. They would be the biggest shortfalls ever, based on data going back to 1975 for platinum and 1980 for palladium on the company’s website.