The platinum price came under pressure in June along with its yellow counterpart and few drivers emerged boost the price.
EU car registrations rebounded to pre-financial crisis highs. Major markets in the region performed well with the exception of the United Kingdom. The Eurozone economy expanded at its fastest pace since 2015 in the first quarter with better than anticipated growth in France, Italy and Greece. Manufacturing sentiment rose to the highest level in 5 years as backlogs of orders built up at the fastest rate in over seven years and factories reported near-record hiring.
On the supply side, South Africa’s mining industry wobbled following the publication of the latest Mining Charter. The document has come under scrutiny particularly on topics of ownership, employment equity, procurement and enterprise development as well as housing and living conditions. The Chamber of Mines, which represents about 90% of the companies in the mining industry, said that the Charter contained illegal, ill-considered and/or unachievable targets. The Chamber of mines have already applied to have the Charter interdicted by the courts.