BMI Cuts Platinum, Palladium Price Forecasts Amid Slower Car Sales and South African Supply Recovery
BMI trimmed its 2026 price forecasts for platinum to $1,900/oz and palladium to $1,400/oz, citing a 1% decline in global vehicle sales and a faster-than-expected rebound in South African mine output. The cuts leave BMI below street consensus and signal a short‑term bearish outlook for both metals, while long‑term projections still favor platinum over palladium.
BMI trimmed its 2026 price forecasts for platinum to $1,900/oz and palladium to $1,400/oz, citing a 1% decline in global vehicle sales and a faster-than-expected rebound in South African mine output. The cuts leave BMI below street consensus and signal a short‑term bearish outlook for both metals, while long‑term projections still favor platinum over palladium.
Short‑term bearish pressure on platinum and palladium prices; traders may see tighter supply‑demand dynamics, with platinum still constrained but palladium facing a larger deficit. The forecast cut could prompt inventory adjustments and influence lease rates, especially for platinum.