Quantcast
Other Stories

Deutsche Bank estimates a loss of about 270,000 ounces of platinum for 2012, which will raise palladium’s ultimate supply deficit

13 Oct 2012

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.


YOUR RESPONSE
Click on the image to reload it
Click to reload image
COMMENTS (0)

@2013 COMMODITYONLINE ALL RIGHTS RESERVED