JM predicts smaller platinum surplus, palladium and rhodium deficits [Financial Post (Toronto, Ontario, Canada)]
JOHNSON MATTHEY S/ADR (JMPLY)
NASDAQ:AMEX Investor Relations:
matthey.com/investor
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Source: Financial Post
The three metals are used in autocatalysts that reduce emissions from vehicle engines, with platinum also used in other industry and for jewelry and investment. Tight supply of palladium and rhodium has driven prices to record highs in recent years, while ample supply of platinum has weighed on its price. Johnson Matthey said it could not reliably estimate how much metal would reach the market from Russia, a major producer, and for that reason it did not give precise surplus or deficit numbers as it has done in previous reports. Sanctions on Russia since it sent troops into Ukraine in February have not stopped its exports, but Johnson Matthey researcher Rupen Raithatha said it was possible that governments or companies may take further measures that could do so. Matthey said low production of automobiles due to a semiconductor shortage would dampen demand in 2022 but that supply was also under pressure, with South African output expected to fall. Platinum demand growth is being
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