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Platts reported Lonmin (LSE:LMI) is predicting platinum demand will outpace supply slightly in South Africa through 2012 although it is unlikely to affect price.
Platts reported Lonmin (LSE:LMI) is predicting platinum demand will outpace supply slightly in South Africa through 2012 although it is unlikely to affect price.
As quoted in the market news:
Platinum reached an afternoon fix in London Friday at $1,466/oz, having begun 2012 at $1,406/oz and hit a high for the year to date (basis the PM fix) at $1,729/oz in late February.
Platinum supply estimates have been progressively revised downwards since 2007, due to supply disruptions and constraints in South Africa, with 2012 already seeing disruptions affecting over 200,000 oz of production due to strikes and industry-wide safety-related stoppages, the company noted.