Palladium Market News Directory

Platinum and Palladium Reach Highs This Week on U.S. Car Sales, News of New Strike

The Wall Street Journal reported this week that platinum and palladium prices reached ten month and two week highs respectively this week as the U.S. posted higher than expected automobile sales and news of a possible new mining strike in South Africa following the end of the long running strike by the Association of Mineworkers and Construction Union.

New Mining Minister Vows to End South African Strike

The Wall Street Journal reported that South Africa's new mining minister, Ngoako Ramatlhodi, has indicated that he will accelerate transformation of the mining industry in that company and end a protracted PGM mine strike in the region. Major PGM miners Anglo American Platinum (LSE:AAL), Impala Platinum (JSE:IMP) and Lonmin (LSE:LMI) have been locked in a wage dispute with the Association of Mineworkers and Construction Union since the start of this year.

Palladium Prices Reach Three Year High as Strike Violence Escalates

The Wall Street Journal reported that palladium prices reached almost a three year high on Wednesday, bolstered by intensifying violence in an ongoing South African miners strike. According to the Journal, striking mine workers blocked their counterparts from returning to work. Palladium has also been lifted by ongoing tensions between Russia and the Ukraine.

Statements From Russia Push Palladium Prices Down

Mining.com reported that palladium prices dropped on Wednesday after Russian President Vladimir Putin said that Russia had withdrawn its forces from the Ukranian border, despite skepticism from NATO. June palladium traded down $20 at $798.30 per ounce on Wednesday afternoon, according to Mining.com.