Platinum prices, which fell by almost 20% in the past year, are set to recover. Unlike most metals, platinum isn’t well supplied: output in South Africa, which accounts for over half of supply, is continually interrupted by strikes.
The latest stoppage began two weeks ago, and unions and managements seem unlikely to agree on wage levels – which have been climbing across the sector – any time soon; 40% of global output is being lost to the strike every day. Electricity shortages and rising energy costs are also hampering production.
While the market is already in deficit and supply faces [...]
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