Platinaprijs stijgt door onrust Zuid-Afrikaanse mijn.......
Platinum is trading at around its highest price in over a month in Europe Friday as escalating violence at the world's third-largest platinum producer sparks concern over supply of the precious metal that is primarily used in the automotive industry.
At 0845 GMT, spot platinum was up 1.4% on the day at $1,456 a troy ounce, having earlier peaked at $1,457/oz, its highest price since July 6.
The death toll in clashes between police and platinum mine workers at Lonmin PLC's (LMI.LN) South African mine climbed Friday, with South African police minister saying that at least 30 people had died.
The company said Thursday it will most likely miss its full-year production target of 750,000 troy ounces of platinum as a result of lost output due to unrest after 3,000 rock drillers began a strike last week.
"While lost platinum production so far does little to put a dent to our estimated [platinum market"> surplus of 210,000 ounces [in 2012">, the risk is that the situation starts to infect other major operations in South Africa, thus softening the surplus balance effect," said UBS analyst Edel Tully.
"Indeed, platinum looks deserving of a supply risk premium at this juncture, with labor union rivalry violence intensifying, risks of contagion across the sector rapidly rising, and no signs of a resolution anytime soon," she added.
Unrest at Lonmin's mine is the latest deadly labor battle in South Africa, where a power struggle between unions has sparked violent outbursts at mines, and frustrations over high unemployment and economic inequalities have fueled protests. South Africa accounts for 80% of the global supply of platinum, a metal that is mainly used in automotive catalytic converters that scrub car exhaust. The industry forecasts the metal to be in surplus this year.
By Francesca Freeman