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IBTimes reported the CEO of Impala Platinum (JSE:IMP) said there is a disconnect between developments in global financial markets and the real economy.
IBTimes reported the CEO of Impala Platinum (JSE:IMP) said there is a disconnect between developments in global financial markets and the real economy.
As quoted in the market news,
n a speech at the company’s annual general meeting yesterday, Brown stated that he thought platinum’s current spot price of around $1,593 per troy ounce represented an undervaluation of the metal. He reached this conclusion after a recent visit to Japanese platinum and automobile traders to assess current sales activities. In the case of copper this view is shared by a growing number of market analysts. Mining giant Freeport-McMoRan has been forced to cut production at its Grasberg mine in Indonesia due to strikes. Analysts are warning that this could result in supply shortages in the copper sector in the coming months.
Click here to read the full IBTimes report.