Morning Bites

🇿🇦South Africa’s PGM mining output rose 5% YoY in August, after the 1% YoY drop in July, according to official statistics. The country’s gold production shrank 5% YoY -- roughly in-line with the 4% YoY decline in July. In our view, the recently started monetary easing cycle in the EU/US and China, upcoming increase in European import duties (from 10% up to 35%) on Chinese EVs, as well as continuous global Pd/Pt market deficit, might trigger a recovery in PGM prices in 2025

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

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