Demand drivers to help Palladium more than Platinum in 2013: ETFS
Supply side factors will continue to benefit both platinum and palladium but demand drivers are going to favour palladium, ETFS said. Weaker China GDP and industrial production data were attributed to the recent fall in platinum and palladium prices. Platinum prices are now $400/ounce below miner's operating costs and therefore more production cutbacks are expected, ETFS report said.
Platinum, Palladium production cuts to tighten supply: ETFS
At the beginning of the year Anglo American Platinum (Amplats), the world's biggest producer of platinum, announced its intention to close four mine shafts and is looking to sell another mine complex as part of a radical overhaul of its South African operations.
Platinum Week: PGMs set to remain in deficit
The newly launched physically backed ETF in South Africa has recorded fresh demand exceeding 190koz. Collectively, platinum ETP holdings are at a fresh record high, surpassing 2Moz.
China's ZCE to launch ferroalloy futures
Ferroalloy is used as a raw material in the steel production process. As the world's largest producer of ferroalloy, China takes up 40 percent of the world's ferroalloy output.
Zimplats registers 26% operating profit
Zimplat's operating costs went up 36%, underlining the pressure the company has been under, after the Zimbabwe Revenue Authority alleged it had skipped $34m in tax payments last year.