Lonmin, the world’s third-largest platinum producer has faced strikes before, in fact, most recently as last month as two unions battle for dominance.
Mine strikes create potential supply risk that may or may not impact daily pricing.
Japanese platinum bar prices fell 2.4% yesterday.
The day’s biggest mover was Japanese platinum bar, dropping 2.4 percent. The price of US platinum bar fell 1.6 percent to $1,480 per ounce. The price of Chinese platinum bar was essentially unchanged.
US palladium bar finished the day down 2.0 percent to $752.00 per ounce. Following a quiet couple of days, the price of Japanese palladium bar fell 0.6 percent on Wednesday. The price of Chinese palladium bar showed little movement on Wednesday.
The price of Japanese gold bullion declined 2.2 percent. At $1,378 per ounce, US gold bullion fell 0.6 percent on Wednesday. Indian gold bullion prices saw a 0.3 percent decline. The price of Chinese gold bullion remained essentially flat.
Japanese silver ended the day down by 2.2 percent. After falling 1.2 percent to $21.68 per ounce, the price of US silver reached a 30-day low. Indian silver closed 0.2 percent lower. Chinese silver stayed flat at around.