Morning Bites (part 2)

🇿🇦South Africa’s PGM mining output rose 3% YoY in August, vs. the -10% YoY in July, according to government data. Meanwhile, the country’s gold production inched up 1% YoY, vs. the 28% YoY growth in July. Although PGM/gold output recovered negligibly, South Africa's mining activity is still dampened by the country's ongoing energy crisis and logistical issues. Overall, we see the sentiment on the PGMs market as remaining heavily stressed by subdued demand from the auto sector. To recap, SA accounts for ~70% of global Pt, 38% of Pd supply and 3% of global gold production

#PGMs #gold     
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