Entire Annual Report - Anglo American Platinum

Platinum Market Review" (continued)MARKET SUPPLY AND DEMANDMarket Supply/DemandPlatinum enjoys a higher status than any other metal onaccount of its beauty, rarity and unique physical andchemical properties. Extreme resistance to corrosion,unparalleled catalytic properties and high fusibility ensureits role in many varied industrial uses, while its lustre,colour and strength attract an increasing following in thejewellery sector.Demand for newly mined platinum in 2000 is estimated tohave increased by 1,2% to a record 5,665 million ounces onfirm off-take in all sectors except the investment sector.Total supplies are estimated at 5,321 million ounces, a 9,3%increase over the 1999 figure owing to substantially highershipments from Russia which more than made up for thedecline in South African production due to flooding.Legislation that inhibited exports from Russia in 1999 wasamended during 2000, thus easing the export of moreRussian metal and resulting in a smaller, yet stillsignificant, deficit in overall supplies compared withdemand.DEMAND FOR newly mined platinum in 2000 is estimated to haveincreased by 1,2% to a record 5,665 million ounces.28