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Neshiva
@neshiva
Is it time? Demand expected to come in at 7.6 million ounces, WPIC® projects a 476,000-ounce market deficit. Limited supply & New Demand? 📈 China is set to launch its 1st platinum futures contracts. According to SCMP Morning Post, the GFEX “will be the 1st exchange to allow delivery against its contracts of platinum and palladium in a form used by the main consumers, including carmakers and other industrial sectors, and the contracts may also support platinum investment demand in China.” 📊 “We are now seeing signs that platinum’s role in the hydrogen economy is gaining momentum, with our forecast for 2024 indicating a significant increase in demand to meaningful levels. This year will also witness the allocation and deployment of over US$300 billion in tax incentives and subsidies from various governments around the world, potentially further accelerating hydrogen's demand for platinum,” WPIC® CEO Trevor Raymond said. Credit: Investing.com, Stefan Gleason /commodities /innovation
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