Platinum market deficit is expected to hit 844,000oz in 2013. HSBC comments that The incentive price analysis suggests that current PGM prices are below levels required to provide producers with an incentive to maintain the current broad base of South African PGM production, let alone plan to increase future output. The platinum/gold ratio bottomed in 2012 near 0.86 and has held a progression of higher reaction lows since August. The price will need to hold above parity if medium-term potential for continued platinum outperformance is to be given the benefit of the doubt.(VIEW LINK)
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