Morning Bites

🇿🇦South Africa’s PGM mining output declined 7% YoY in May, after the 5% YoY drop in April. Meanwhile, the country’s gold production rose 27% YoY, repeating April’s dynamics. To recap, domestic PGM production is suffering from inflationary pressures, electricity shortages and logistical issues. Despite the country’s tightening supply, demand from automakers remains sluggish, so we do not expect the output disruptions to have a material effect on prices. On our numbers, South Africa represents ~70% of global Pt and 38% of Pd supply, respectively (as well as 3% of world gold output)

#PGMs #gold   
https://metals-wire.com:3000/news-reports