Finally after 5 months of strikes in South Africa’s platinum industry an agreement has been reached the strike has ended. This is very positive news for the mining organisations who have lost a reported $2.3 billion in revenue and the 70,000 workers who have missed out on just short of $1 billion in unpaid salaries.
Even though the strike is over now it will take time to build up the mining operations back to the productivity prior to the devastating strikes which costs lives as well as jobs.
Both platinum and palladium prices are higher to date, with platinum nearly gaining 8% and palladium being up a phenomenal 17%.
This shows that despite the strikes being over upside trends still remain, with a strong demand continuing in the global automobile sector and supply issues still in the forefront.
Platinum and Palladium Price Predictions
Analysts have predicted palladium to finish the year at $900 and platinum $1,550, for now investors will be closely watch supply and demand trends, tensions in Ukraine and Russia and further signs of the dollar weakening.