The platinum market's forecast surplus in 2012 was likely to result in prices remaining steady between 1 450 dollars/oz and 1 750 dollars/oz - averaging at 1 600 dollars/oz -during the next six months, platinum researcher Johnson Matthey said last week. In its latest 'Platinum 2012' report, Johnson Matthey found that, while platinum demand increased 2% during 2011 to 8.1-million ounces, global supplies of platinum rose 7% to 8.53-million ounces, including in-process and refined inventories from South Africa in the second half, and recycling, which pushed the industry into a 430 000 oz oversupply.
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