Monday, May 7, 2007

Platinum Futures Climb to Record in Tokyo; Northam Strike Crimps Supply

(Bloomberg) -- Platinum futures climbed to a record for a second day in Tokyo amid expectations a strike at a South African mine will crimp supplies of the metal.

About 5,500 workers stopped working April 29 in a strike over wages at the world's deepest platinum mine, run by Johannesburg-based Northam Platinum Holdings Ltd. A court order granting Northam the right to end the work stoppage may not end the metal's rally, given the demand outlook, some analysts said.


Read more at Bloomberg Commodities News

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