JCK-Jewelers Circular Keystone
Total fabrication demand for platinum rose 0.8 percent to 7.06 million ounces in 2007 year-over-year, according to the Platinum Group Metals Yearbook. High platinum prices affected demand in some sectors, such as jewelry and electronics, but were offset by relatively inelastic demand in other sectors, in particular the automotive industry.
In 2008, total fabrication demand could rise 3.2 percent to reach 7.28 million ounces, according to the annual report, which was released Tuesday by CPM Group, a commodities market research, consulting, asset management, and investment-banking firm. Demand for platinum in the auto industry, the largest sector of end-use, is projected to remain strong this year, due mostly to strong demand from developing nations. Jewelry demand could decline again this year, while demand in China and other uses are projected to increase slightly. Read more about Platinum Demand for Jewelry Fell in 2007 …