[miningmx.com] – THE price of platinum was heading for its longest run of quarterly losses in 18 years having fallen every quarter since June last year, said Bloomberg News in an article republished by BDLive.
Analysts told the newswire that the price was sluggish just as supply rebounded following last year’s five month strike in South Africa. “The fundamentals are not that great,” said David Meger, director of metal trading at High Ridge Futures.
“The supply situation is improving, but demand has not been strong. Also, the financial turmoil in Europe is a negative for these precious metals,” he said.
“We have seen a recovery in South African production after strikes last year, but demand hasn’t been spectacular,” said Robin Bhar, an analyst at Societe Generale in London. “There are a lot of headwinds for these metals.”
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