On 24 November 2015, the World Platinum Investment Council (WPIC) published its fifth Platinum Quarterly. The report says global platinum jewellery demand for Q3 2015 is estimated at 790 koz, up 19 percent compared to the last quarter as manufacturers in several of the larger markets prepared for strong selling seasons ahead.
Elevated jewellery demand in China was driven by restocking ahead of the wedding season and the national holiday. India represented the strongest region in terms of growth, with Q3 sales up over 20 percent from Q2, as the region heads into peak wedding season. In the United States, sales were up around eight percent year-on-year in Q3 as bridal customers who tend to buy the setting and stone separately find platinum increasingly attractive over white gold as the platinum price has declined relative to gold. Japan has seen platinum jewellery demand remain flat quarter-on-quarter in Q3 as the country’s economy remains fragile.
However, compared to the 2,990koz in 2014, the annual global demand for platinum jewellery in 2015 at 2,850koz is estimated to reduce by five percent. Jewellery sales in China have suffered from lacklustre market sentiment arising from political tensions between the Mainland and Hong Kong that affected travel and spending during the normally buoyant Chinese New Year period, and the summer stock market rout curbing some luxury spending. In India, Q4 is the peak jewellery buying season, with substantial sales normally seen during the Diwali festival period.
The full report can be accessed at: http://www.platinuminvestment.com/files/WPIC_Platinum_Quarterly_Q3_2015.pdf
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