[miningmx.com] – THE price of platinum may continue to surge because there is less incentive for producers to hold back the price following a five month strike in South Africa’s platinum group metal sector, said Wall Street Journal.
Citing a report by BoA Merrill Lynch, the WSJ said soaring platinum prices during the platinum strike in South Africa would have enabled workers to argue companies could easily afford their wage demands.
With the strike’s end, “this cap on rallies has been removed,’ BofA Merrill Lynch analysts said in a note to clients. It added that it would take three months to ramp-up platinum production which would make platinum supply tight.
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