Anglo American Platinum Strike Has Ended

The Amplats strike has ended. After the producer “and the largest union at its South African operations reached a compromise over plans to cut as many as 3,100 jobs,” reports Bloomberg.

“The company known as Amplats will reopen applications for voluntary severance packages for seven days, AMCU President Joseph Mathunjwa told reporters today in Rustenburg…The AMCU estimates that the total number of job cuts will be brought down by 1,336 through reopening the process after previous applications weren’t granted, he said.”

“The agreement ends a strike that started on Sept. 27 and cost the company 3,100 ounces of lost platinum-group metals output daily.”

Indian silver moved up 2.6 percent on Wednesday, October 9, the day’s biggest change. Following a couple of essentially changeless days, the price of Japanese silver rose by 2.4 percent. After a 0.9 percent increase, Chinese silver finished the day. The price of US silver, following a couple days of improvement, prices fell by 0.3 percent.

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The price of Japanese gold bullion finished the market day up 0.9 percent per gram. The price of Chinese gold bullion fell 0.4 percent. US gold bullion closed 0.3 percent lower. Indian gold bullion held its value yesterday.

Japanese platinum bar gained 1.0 percent to finish. US platinum bar prices inched up 0.3 percent. Chinese platinum bar saw little change in its price on Wednesday.

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US palladium bar saw its price rise 1.3 percent. The price of Japanese palladium bar finished the market day up 0.3 percent per gram. The price of Chinese palladium bar held steady.

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