Platinum recovery may be sooner than expected PLATINUM and palladium prices could recover later this year because supply shortages related to the national power crisis are likely to go on, Natixis Commodity Markets said in its third-quarter Metals Review released yesterday. Spot platinum plunged almost 5% to $1578/oz in early trade yesterday, its lowest level in six months, on the release of figures from the US and Germany showing a sharp fall in vehicle sales, said Bloomberg. The price of platinum, which is used in catalytic converters in vehicles, has shed almost 20% in three weeks. SA produces most of the world???s platinum. Angloplat, the world???s biggest producer, was 4% weaker at R877 by mid-afternoon, while Impala Platinum, the second-biggest producer, was 6% down at R202,60. Course: Business Day This entry was posted on Tuesday, August 5th, 2008 at 8:20 pm.

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