Platinum Is Little Changed on South Africa Labor Talks; Palladium Falls

(Bloomberg) -- Platinum was little changed in New
York, heading for a weekly decline, after Anglo Platinum Ltd.,
the world's largest producer of the metal, raised a wage offer
in an attempt to avert a strike in South Africa.

Anglo Platinum is offering pay raises of 8 percent to
10 percent, after a 7 percent increase was rejected, Solidarity
labor union said. At Impala Platinum Holdings Ltd., the world's
second-largest producer, workers in South Africa turned down an
increased pay offer this week. The country produces about
80 percent of the world's platinum.


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Platinum Futures Fall in New York as Strike Threats Ease; Palladium Drops

(Bloomberg) -- Platinum fell the most in three
months in New York as concerns decreased about potential strikes
at mines in South Africa, which produces about 80 percent of the
metal. Palladium also declined.

Platinum rose 1.7 percent this month before today after
companies including Anglo Platinum Ltd., the biggest producer,
Impala Platinum Holdings Ltd. and Northam Platinum Holdings Ltd.
started wage talks with workers last month. Unions say near-
record prices for the metal should allow companies to boost wages
beyond inflation, currently at 6.3 percent.


Read more at Bloomberg Commodities News