Platinum – Bloomberg reported yesterday that platinum took its biggest fall in three months on news that South African miners may be making progress in an ongoing dispute with workers. Platinum futures for April delivery dropped by 2 percent to $1,400.70 an ounce on the New York Mercantile Exchange, according to Bloomberg.
Articles Tagged "Platinum Market News"
Platinum – Bloomberg reported today that Morgan Stanley predicts the worldwide platinum deficit, augmented by over three month long miner strikes in South Africa, could last four years before it gets corrected.
Platinum – Although platinum and palladium saw price drops on Monday, CNBC has pointed to a broader 5-percent jump in year-to-date platinum futures prices as well as a 7-percent price jump for its sister metal.
Platinum – Frik Els of Mining.com reported that platinum prices fell by more than $20 per ounce on Monday while palladium prices also declined. According to mining, prices for the metals are not reacting as expected to supply squeezes from Russia and South Africa, especially in light of revived demand from the European automobile industry.
Platinum – Bloomberg reported that Sibanye Gold (NYSE:SBGL) is open to purchasing platinum mines after wage strikes end in South Africa.
Platinum – Kitco News reported that according to a report from Innovative Research and Products, the market for recycled platinum-group metals (PGMs) is expected to expand 8.2 percent by 2018, reaching a value of $9 billion.
Platinum – Bloomberg reported that according to General Electric Co. (NYSE:GE), fuel cells' dependency on platinum means they will never be more than a niche product.
Platinum – Reuters reported that Zimbabwe's government is in the process of considering Impala Platinum Holdings Ltd.'s (OTCMKTS:IMPUY) proposal for the construction of a platinum refinery in the country.
Platinum – Mineweb reported yesterday that analysts are raising the possibility that strikes at the operations of South Africa's major platinum miners will push prices for the metal up.
Platinum – Mineweb reported that based on presentations and conversations that took place at this year's PDAC convention, it's clear that the future of South Africa's platinum sector lies in newer, shallower mines, not the "deep-vein, shanty-town-lined mines of old."