Morning Bites (part 2)

🇿🇦South Africa’s PGM mining output fell 10% YoY in July, reversing from the 11% YoY growth in June. Meanwhile, the country’s gold production was up 13% YoY, decelerating from the 29% YoY spike in the previous month. Although persistent electricity shortages, logistical issues and inflationary pressures keep weighing on the country’s production, demand for PGMs remains weak against the backdrop of growing appetite for EVs globally. That is why PGM prices are at subdued levels (-60% and -30% since mid-2021 for Pd and Pt, respectively). To recap, SA accounts for ~70% of global platinum, 38% of palladium supply and 3% of global gold production

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