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Heraeus expects platinum price ‘correction’ in second half of the year
Refinery services provider Heraeus finds in its latest precious metals appraisal that the platinum price, which currently averages $1 341/oz, will correct over the second half of the year. The South African platinum group metal (PGM) basket price is currently more than 30% higher than at the beginning of the year, in dollar terms. For high-cost producers in South Africa, this will ease pressure on profit margins which have been eroded over the last 18 months as PGM prices have fallen and production costs have risen. While platinum is a major component of the revenues, the basket also includes palladium and chrome, ... (full story)