Morning Bites (part 2)

🇿🇦South Africa’s PGM mining output inched down 1% YoY in July, after the 6% YoY drop in June, according to official statistics. The country’s gold production fell 4% YoY, decelerating from the 13% YoY fall in June. In our view, unfavourable market conditions will likely keep weighing on PGM production in 2H24, as demand from the automotive sector remains subdued, which is accentuated by growing consumer interest for EVs globally

To recap, SA accounts for ~70% of global Pt, 38% of Pd supply and 3% of global gold production

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