| The end of labor strikes in South Africa’s mining industry is increasing rhodium production at the fastest pace in two decades and cutting prices. The metal, used to control toxic emissions from cars, dropped 35 percent since August to a 18-month low of $955 an ounce, according to data from Johnson Matthey Plc. South Africa may boost output by 25 percent this year after three years of declines, according to the London-based firm, which makes about a third of the world’s catalytic converters.
“Rhodium is looking very bearish,” David Jollie, head of research at Mitsui & Co. Precious Metals Inc., said by phone from London on Monday. “Buyers are taking the view that if they wait, prices will come to them.”..............................................Full Article: Source
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