{"id":7412,"date":"2012-01-26T21:12:59","date_gmt":"2012-01-26T19:12:59","guid":{"rendered":"http:\/\/www.myza.co.za\/01\/pgms-to-falter-in-2012-recover-in-2013\/"},"modified":"2012-01-26T21:12:59","modified_gmt":"2012-01-26T19:12:59","slug":"pgms-to-falter-in-2012-recover-in-2013","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/pgms-to-falter-in-2012-recover-in-2013\/","title":{"rendered":"PGMs to falter in 2012, recover in 2013"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">LONDON<\/span> Jan 26 (Reuters) &#8211; Platinum and palladium<br \/>\nprices are expected to struggle in 2012, with analysts<br \/>\ndrastically scaling back expectations for both metals as the<br \/>\neuro zone debt crisis threatens global economic growth, a<br \/>\nReuters poll shows.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>For 2013, however, the gradual resolution of the European<br \/>\ncrisis, together with a resurgence in global growth and<br \/>\nconstraints to supply is likely to boost prices again in 2013.<\/p>\n<p><span><\/span><\/p>\n<p>The Reuters survey shows the median forecast for platinum at<br \/>\nan average $1,610 an ounce this year, down from the median<br \/>\n$1,900 an ounce forecast in July 2011 and below the median<br \/>\ntrading price of $1,765.00 of 2011.<\/p>\n<p><span><\/span><\/p>\n<p>The survey of 29 analysts included views ranging from<br \/>\n$1,829.00 to a low of $1,360.00. For 2013, analysts expected an<br \/>\naverage platinum price of $1,812.50 an ounce.<\/p>\n<p><span><\/span><\/p>\n<p>Platinum&#8217;s heavy dependence on the broader European economy<br \/>\nand demand for catalytic converters means consumption is likely<br \/>\nto be constrained this year by the debt crisis, although this<br \/>\ncould be partially offset by robust Chinese demand for<br \/>\njewellery, another key source of off-take.<\/p>\n<p><span><\/span><\/p>\n<p>Mine supply is expected to grow this year, but the potential<br \/>\nfor disruptions in top producer South Africa from electricity<br \/>\nshortages could be supportive.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;End-user demand will be needed to help investors drive any<br \/>\nprice rises, and a weak outlook for European automotive output<br \/>\n(and hence platinum use) is worrying,&#8221; David Jollie, an analyst<br \/>\nat Mitsui Precious Metals, said.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;We expect the global economic outlook to improve, aiding<br \/>\nindustrial platinum demand, and jewellery demand seems to be<br \/>\nrobust in China, suggesting that some move towards higher prices<br \/>\nis likely later in the year,&#8221; Jollie said.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;However, with relatively weak fundamentals, it seems<br \/>\nunlikely that platinum will trade at an average price in excess<br \/>\nof last year&#8217;s level,&#8221; he added. Jollie forecast an average<br \/>\nplatinum price of $1,575.00 this year.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>LONDON Jan 26 (Reuters) &#8211; Platinum and palladium prices are expected to struggle in 2012, with analysts drastically scaling back expectations for both metals as the euro zone debt crisis threatens global economic growth, a Reuters poll shows. For 2013, however, the gradual resolution of the European crisis, together with a resurgence in global growth [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-7412","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7412","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=7412"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7412\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=7412"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=7412"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=7412"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}