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A D V A N C E D M A T E R I A L S & P R O C E S S E S | A P R I L 2 0 1 6
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MARKET SPOTLIGHT
FEEDBACK
AUTOMOTIVE DEMAND FOR PLATINUM
ON THE RISE
The World Platinum Investment
Council recently announced publica-
tion of its sixth
Platinum Quarterly,
a
free quarterly analysis of the global
platinummarket. The report incorpo-
rates analysis of supply and demand
during the fourth quarter of 2014
and for all of 2015. It also provides a
2016 forecast. The report is based on
research and detailed analysis con-
ducted by SFA (Oxford) Ltd., UK, an
independent authority on the plati-
numgroupmetalsmarket. The global
platinum market ended 2015 in defi-
cit by 380,000 ounces (380 koz), with
key drivers of the shortfall including:
•
2015 saw a 5% increase in auto-
motive demand, reaching
3455 koz, up from 3290 koz in
2014 and 3160 koz in 2013. De-
spite the impact of the Volkswa-
gen diesel investigation, 2015 de-
mand growth was led by Western
Europe vehicle sales growth, up
9% year-on-year, where the impo-
sition of the new Euro 6 legisla-
tion increased platinum loading
per car. Automotive demand from
India also grew by 9%.
•
Industrial demand increased by
4% during 2015, buoyed by a 2%
rise in chemical demand growth
SILVER SPOONS
Thank you for including the very inter-
esting story of Dr. Edgar C. Bain (“Metallurgy
Lane,” January 2016). After reading the article,
I thought I might pass along my recollection
of Dr. Bain. It is brief but indelible. In the fall of
1969, Dr. C.S. Smith was to address a meeting
of the ASM Pittsburgh Chapter. Another young
metallurgical engineer and I were assigned by
the Chapter to deliver Dr. Smith to the meeting
fromDr. Bain’s home in Sewickley, Pennsylva-
nia. By prior arrangement, we two metallurgists
were to arrive at Dr. Bain’s home in the late
afternoon to collect Dr. Smith. Upon our arrival,
Mrs. Bain escorted us to Dr. Bain’s study where
he and Dr. Smith were discussing the future of
scientific discovery, whether it should be based
on atomic considerations of metals andmateri-
als or on biological pursuits.
Mrs. Bain, a wonderful hostess, offered
coffee to us two “coachmen.” Being young and
polite, we accepted. In a short time, the coffee
arrived in fine china cups, with saucers, cream
and sugar, and of course, spoons with which to
serve ourselves. At this point, I recollect Drs. Bain
and Smithmay have been secretly conspiring
to test our metallurgical knowledge. We added
sugar and cream to the coffee and without much
thought commenced to stir the coffee. Immedi-
ately the roomechoed two very distinct clinks—
the sound of spoons dropped and clattering
within the cups, caused by the painful sensation
of heat conducted through the silver spoons
(not likely silver alloy) from the hot coffee to our
youthful, unprepared fingers. Whether or not
this is accurate, I recall both Drs. Bain and Smith
being quietly amused at the lesson on thermal
conduction being given to us that day.
Dr. Bain was a metallurgical giant. I am
proud of having made his personal acquain-
tance that fall day. I wish his demeanor could
guide more young people into our field.
TimKosto
We welcome all comments
and suggestions. Send letters to
frances.richards@asminternational.org.
driven by North America, West-
ern Europe, and China. Greater
global demand for oil refining
and a swing from refinery reduc-
tions to net capacity expansion
saw demand from the petroleum
sector more than doubling—from
65 koz in 2014 to 160 koz in 2015.
•
Jewelry sales contracted by 4%
over the year, affected by a fall
in Chinese demand. In contrast,
demand for platinum in India
surged by 26% on the back of
strong bridal growth and in-
creased sales of men’s jewelry.
•
Refined production grew by
24% over the year, led by a 41%
increase in output from South
Africa, where operations affected
by the 2014 strikes returned to
pre-strike levels and producer
sales again exceeded refined
production.
•
Global supply from recycled plat-
inum fell by 15% over the year
to 1725 koz, as lower platinum
group metals prices reduced
the flow of scrap catalysts from
collectors, while depressed steel
prices reduced the scrapping of
vehicles.
For more information, visit
platinum- investment.com.
Automotive
42%
Jewelry
35%
Chemical
7%
Petroleum
2%
Electrical
2%
Glass
2%
Medical and
Biomedical
3% Other
4%
Investment
3%
2015
Demand
8205 koz
Source: SFA (Oxford) Ltd.