Market data tables
Tables containing Johnson Matthey's estimates of supply and
demand dating back to 1975. The data is in oz troy and metric
tonnes and can be viewed in pdf or Excel. To view the pdf
files you may need to download the free Adobe Acrobat Reader.
For a definition of supply and demand categories please
read the Notes to tables at the foot of this page.
Platinum Supply and Demand
Palladium Supply and Demand
Rhodium Supply and Demand
Notes to tables
1. Supply figures represent estimates of sales
by the mines of primary pgm and are allocated to where the initial
mining took place rather than the location of refining.
Additionally, we continue to report sales of metal which we believe
has not previously been priced, principally sales of Russian state
stocks, as supplies.
2. From 2006 onwards, Russian supply figures
represent the total pgm sold in all regions, including Russia and
the ex-CIS. Demand in Russia and the ex-CIS states is included in
the Rest of the World region from 2006 onwards. Russian
supply figures for palladium have been split into sales
from primary mining and sales of stocks.
3. From 2005 on, supplies from Zimbabwe have
been split from Others' supplies. Platinum group
metals mined in Zimbabwe are currently refined in South Africa, and
our supply figures represent shipments of pgm in concentrate or
matte, adjusted for typical refining recoveries.
4. Gross demand figures for any given
application represent the sum of manufacturer demand for metal in
that application and any changes in unrefined metal stocks in that
sector. Increases in unrefined stocks lead to additional demand,
reductions in stock lead to a lower demand figure.
5. Our Medical and Biomedical category
represents combined demand for platinum in the medical, biomedical
and dental sectors. Prior to 2005 this demand is included in our
6. Recycling figures represent estimates of the
quantity of metal recovered from open loop recycling (i.e. where
the original purchaser does not retain control of the metal
throughout). For instance, autocatalyst recycling represents the
weight of metal recovered from end-of-life vehicles and aftermarket
scrap in an individual region, allocated to where the car is
scrapped rather than where the metal is finally recovered. These
figures do not include warranty or production scrap. Where no
recycling figures are given, open loop recycling is negligible.
7. Net demand figures are equivalent to
the sum of gross demand in an application less any metal recovery
from open loop scrap in that application, whether the recycled
metal is reused in that industry or sold into another application.
Where no recycling figure is given for an application, gross and
net demand are identical.
8. Movements in stocks in any given year
reflect changes in stocks held by fabricators, dealers, banks and
depositories but excluding stocks held by primary refiners and
final consumers. A positive figure (sometimes referred to as a
'surplus') reflects an increase in market stocks. A negative value
(or 'deficit') indicates a decrease in market stocks.