Commerzbank sees potential labor issues that could support PGMs
NEW YORK (Scrap Register): Commerzbank cautioned that trouble could be brewing in the South African mining industry, which could support prices of platinum group metals.
Analysts cited a news reports saying that Impala Platinum, the world’s second-largest platinum producer, is planning to make up to 2,500 workers "redundant" after recording a financial loss last fiscal year.
According to the company, further redundancies could follow. This could result in strikes and thus disrupt production,Commerzbank added. Strikes disrupt supplies and have led to jumps in PGM prices in past years.