Thursday, May 31, 2007

Platinum Gains on Speculation South African Wage Talks May Reduce Supply

(Bloomberg) -- Platinum climbed for a second day in
London on speculation that strikes will disrupt supplies from
South Africa, the world's biggest producer. Palladium rose.

Johannesburg-based Anglo Platinum Ltd., the world's largest
producer, is offering a pay rise of 6 percent to its workers,
compared with a demand of 15 percent, the Solidarity labor union
said yesterday. South Africa's platinum companies this month
started biennial wage talks for agreements expiring in June.


Read more at Bloomberg Commodities News

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