Platinum Jewelry Demand Will Reach Six-Year High, Matthey Says

(Bloomberg) -- Demand for platinum jewelry is surging to a six-year high after a plunge in prices spurred record Chinese consumption, compensating for the weakest usage by carmakers since 2000, Johnson Matthey Plc said. Supply will outpace demand by 140,000 ounces, compared with a shortfall of 240,000 ounces last year, after a 33 percent drop in demand from autocatalyst makers, London-based Johnson Matthey said in a report. Chinese jewelry demand will weaken next year while rebounding economic growth will boost vehicle production and may move the market back to a deficit, Johnson Matthey said.

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