Business Day, in its August 28, 2012 article, reports that Platinum market ‘likely to slide into deficit next year’.
Extract :
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THE fall in platinum production from South Africa,
the world’s largest source of the metal, combined with steady demand means
the market will be in balance this year and slide into a deficit next year
with the outlook for prices good, platinum players say.
Labour disputes coupled with weak prices, high costs and
negative sentiment around the metal, which is used in autocatalysts
and jewellery, have
resulted in heavy cutbacks in supply from South Africa this year.
Platinum miners have reported disrupted supply or
shaft closures or delayed projects because of industrial action or the poor
economics of operating mines. Combined, more than 250,000oz of platinum
production have been lost so far this year.
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