Let's talk about platinum in the bullish metals market

The World Platinum Investment Council's latest view is that the January pullback was essentially a sentiment premium unwind, and prices have returned to fundamentals-based valuation.
The core remains unchanged—supply shortages.
Platinum's structure is somewhat similar to silver, with long-term demand consistently exceeding total supply from mining plus recycling.
2024 marks the third consecutive year of shortages, with a gap approaching 995,000 ounces.
It is expected to slightly widen in 2025.
By 2026, it may temporarily approach balance.
However, from 2027 to 2030, a moderate shortage is likely to persist, around 300,000–400,000 ounces annually.
Even with emotional fluctuations, the underlying supply and demand logic remains intact. Short-term prices are driven by capital speculation, but in the long run, it depends on whether the shortage can be sustained.
In the short term, platinum has basically corrected to a stable level.
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