Last Updated : 13 October 2012 at 15:15 IST
Platinum 270,000oz output shortfall to raise Palladium supply deficit: Deutsche Bank
Source :Deutsche Bank
Deutsche Bank estimates a loss of about 270,000 ounces of platinum for 2012, which will raise palladium’s ultimate supply deficit
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LONDON (Commodity Online): South Africa’s labor issues have affected the country severely, with over 90,000 of South Africa’s miners or 30% of the workforce in the mining sector are now on strike,, said Deutsche Bank in a commodity research note.
Of all the resources, platinum has been hit the hardest. “We estimate that 28% of South African platinum production or 17% of global production has been affected,” they say. It’s possible the output losses could push platinum prices to trade at a premium to gold, the the largest German bank added.
Also, the labor issues could affect gold more as supply constraints start to become a more important issue. They estimate that over a third of South African gold production or 2.5% of global production has been affected. Palladium has been less-impacted by the South African strikes, the bank notes.
“We estimate a loss of about 270,000 ounces of platinum for 2012, which will raise palladium’s ultimate supply deficit,” Deutsche Bank concluded.
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