South African Strikes May Raise Platinum Price

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.

As quoted in the market news:

ANZ noted lost production this year already nearly matched a similar supply crunch in 2012, a year the price of platinum rose swiftly on the back of strikes.

Meantime ANZ added there was a ‘fundamental supply deficit in 2014′ representing 10 percent of demand.

‘Continuing the parallel with 2012, platinum rose almost 25 percent between August and September, the height of tensions,’ ANZ analysts said.

Click here to read the full Mineweb report.