Palladium Near 13 Year High around $870
Platinum group metals continued to benefit from concerns over the supply situation in South Africa, which recently witnessed a five-month long strike at top producers. The strike ended late last month but other smaller strikes have since broken out, burnishing supply fears.
Impala Platinum said on Monday that wildcat strikers at its Marula mine had indicated they would return to work on Tuesday and press their demands through “formal channels”, but tensions remained high.
Palladium was trading near a 13-year peak of $868.50 hit on Monday. The metal, used in catalytic converters, was aided by last week’s data showing U.S. auto sales at an eight-year high in June.
Source: CNBC
