[miningmx.com] – SOUTH Africa’s platinum index fell 3.5% on September 22, its third successive day of declines, amid continued weakness in the price of the metal – a development analysts said was related to excess supply.
“Being forced to take more metal than they need, the customers have been offloading excess metal to investors for years,’ Noah Capital analysts Michael Kavanagh and Rene Hochreiter said in a note quoted in an article by Bloomberg News.
“The palladium price has also been breaking lower recently, that’s also bad news for these stocks,’ Garth Mackenzie of Traderscorner.co.za was quoted by the newswire to have said.
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