Morning Bites

🇿🇦South Africa’s PGM mining output rose 4% YoY in November, after the +3% YoY in October, according to the official statistics. Meanwhile, local gold production dropped 12% YoY, accelerating from the -3% YoY in October. In our view, the ongoing monetary easing cycle in the EU/US and China, and the increase in EU import duties (from 10% up to 45%) on Chinese BEVs (encouraging production of catalyst-containing cars), as well as the upcoming cancellation of EV-support programmes in the US, might bolster 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