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
- Gold, Silver may trade weak; Crude Oil to remain stable
- Exchange-traded products in gold -- investment vehicles that give investors exposure to bullion through issuing securities backed by the physical metal -- have seen huge outflows this year.
- read more
Continued year-over-year declines in U.S. beef production are expected to push beef exports lower..
By Col. Ajay
As per financial astrology, transit OD Sun in Saturn house is ..
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.
- UNICA data may induce further price pressure on Sugar: Deutsche Bank
- China Gold demand vs India Gold demand: Which is more consistent?
- Platinum prices to average $1687/oz in 2013: Barclays
- US Natural Gas industrial demand to grow 400 Mmcf/d in 2013: Barclays
- LME Copper prices may average $7,673/ton in 2013: Barclays
- US Natural Gas exports to Mexico to average 2.0 Bcf/d in 2013: Barclays