Market data tables

Platinum Supply and Demand

Palladium Supply and Demand

Rhodium Supply and Demand

Iridium Demand

Ruthenium 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 Other category.

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.