(Bloomberg) -- Platinum climbed for a second
consecutive day in London on speculation industrial users will
hoard the precious metal in anticipation of a strike in South
Africa, the largest producer. Palladium dropped.
The one-month interest rate to borrow rhodium, a metal
that's mined from the same ore bodies as platinum in South
Africa, has soared this week to an annual rate of 30 percent,
from 18 percent last week, said Mark Augustynak, a trader at
Natixis Commodity Markets Ltd. in London. South Africa is also
the biggest producer of rhodium.
Read more at Bloomberg Commodities News
consecutive day in London on speculation industrial users will
hoard the precious metal in anticipation of a strike in South
Africa, the largest producer. Palladium dropped.
The one-month interest rate to borrow rhodium, a metal
that's mined from the same ore bodies as platinum in South
Africa, has soared this week to an annual rate of 30 percent,
from 18 percent last week, said Mark Augustynak, a trader at
Natixis Commodity Markets Ltd. in London. South Africa is also
the biggest producer of rhodium.
Read more at Bloomberg Commodities News
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