Wall St. woes hit platinum
Wed, Nov 19, 2008
Platinum Investing News reports platinum has been falling due to the poor economy.
Platinum refiner Johnson Matthey expects the price of platinum to range between $700/oz and $1,400/oz in the next six months, with the outlook for the market more uncertain than it has been for many years. “The dramatic fall in the platinum price in the third quarter of the year could yet pose significant challenges to the primary producers and make expansion less attractive,” Johnson Matthey said. Looking forward, Matthey said it expected that most major national economies would suffer a recession, or slowdown in growth, and this would impact industrial demand for the metal.
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Tags: demand, economic outlook, exploration activities, explorers, futures, industries, lonmin, lonmin plc, metal company news, national economies, nymex, open pit mining, ounce, pgm, platinum, platinum price, platinum prices, price, prices, primary producers
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