The autocatalyst maker added that it expected all platinum group metals (PGM) - platinum, palladium, and rhodium - to remain in deficit in 2024. Johnson Matthey (JM) said it expected the platinum market's deficit to increase to 598,000 ounces this year from a shortfall of 518,000 ounces in 2023. Auto sector consumption is expected to slip 1.3% in 2024, while primary supply is projected to fall 2% as Russian shipments return to more normal levels following heavy selling of mined stocks in 2023, JM said.
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Johnson Matthey (JMPLY) finalizes the sale of its Medical Device Components business to Montagu Private Equity for $700 million, completing its Value Businesses divestment program.