Platinum Miners Face Demand Downturn as EV Transition Revs Up

Miners of platinum metals are likely to face plummeting demand in the coming years, victim to the automotive industry’s transition to battery-electric vehicles.

A decline in demand could happen as soon as 2025-26, Citi analysts say in a research note, forecasting “a structural demand downturn in a scale and speed hardly seen across the commodity markets.”