SaxoTV

Five things you need to know about the South African mining strike

520 views
June 04, 2014 commodities, commodities markets, commodities supply, commodity, commodity index, commodity investing, commodity market, commodity markets, commodity outlook, commodity prices, commodity strategy, commodity trade, commodity trading, consumo, industrial metals, macro, macro economics, macro economy, macro policy, macro strategy, macroeconomics, miners, mining, mining bhp, mining boom, mining companies, mining industry, mining sector, mining shares, mining stocks, moning, palladium, platinum, saxo bank, saxo bank saxo tv, saxo bank trading floor, saxo bank tradingfloor.com, saxo tv, saxo tv saxo bank, saxo tv trading floor, saxo tv tradingfloor, saxo tv tradingfloor.com, saxobank, saxotv, south africa, strike, trading, tradingfloor, tradingfloor saxo bank, tradingfloor saxo tv, tradingfloor.com, tradingfloor.com insights, tradingfloor.com saxo tv, tradingfloorcom
A strike affecting South African platinum mines has so far lasted five months, here are five things you need to know:
Unions are demanding employers double wages for around 70,000 miners 
One of the mining firms hit by the strike, Lonmin, has seen Platinum production fall by around 40%
The strike has seen the price of Palladium, used in catalytic converters hit a 33 month high.
Supply shortages for platinum and palladium will be the largest in more than three decades this year
The strike is now threatening to drag the South African economy towards recession, the economy shrank by 0.6% in Q1, the first time since 2009.