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Norilsk Nickel Expects Platinum Deficit On South African Strikes
Sep. 13, 2012 01:01PM PST
Precious Metals InvestingBloomberg reported strikes in South African mean global platinum supplies may fall short of demand this year, according to OAO GMK Norilsk Nickel (LSE:MNOD).
Bloomberg reported strikes in South African mean global platinum supplies may fall short of demand this year, according to OAO GMK Norilsk Nickel (LSE:MNOD).
As quoted in the market news::
Platinum futures rallied to the highest in more than five months yesterday on concern that supplies will be disrupted by labor unrest in South Africa, the world’s largest producer of the precious metal. Strikes and pit closures meant mining companies extracted 380,000 ounces less than they could have this year, equivalent to about 6 percent of global output, Deutsche Bank AG estimates.