On September 9, the World Platinum Investment Association released the Platinum Report for the second quarter of 2026 and updated the 2026 full-year forecast. The report shows that the platinum market had a continuous quarterly surplus of 8 tons in the second quarter. The total supply was basically the same, at 59 tons; total demand fell 16% year over year to 52 tons. There was an outflow of 7 tons from platinum ETFs, which reduced net investment holdings by 4 tons. Looking ahead to the full year, the platinum market is expected to have a surplus of 8 tons, which will partially offset the 17 ton surplus in the first half of the year as the ETF outflow trend reverses. Thanks to increased recycling, the total supply of platinum is expected to increase by 2% year over year to 229 tons. Total demand is expected to drop 18% year over year to 220 tons, mainly due to a significant drop in investment demand compared to the previous year.

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