‘Elevated basket price unlikely to hold for platinum group metals’
The team continue to see downside risk to the PGM basket price which is still trading above cost support. (Image source: U.S. Geological Survey/Flickr)
While the nationwide lockdown in South Africa presented a supply response through forced capacity closures, the deteriorating demand fundamentals could tip the platinum group metals (PGMs) into surplus territory with a near-term recovery unlikely, according to Renaissance Capital