Lonmin Plc, the world’s third-biggest platinum producer, posted a 1 percent slip in third-quarter refined platinum sales and said its troublesome No. 1 furnace would need another rebuild. For full story, click here
Current annual sales of platinum jewellery in China are roughly 1.4 to 1.5 million ounces. Zhang Longzhi, Vice President of the All-China Association of Industry & Commerce, stated: After over 20 years’ development, the jewellery industry has become an important industry in our national economy. For full story, click here
Lonmin, the world’s third-largest platinum producer, is not adjusting its sales guidance for the 2009 financial year despite platinum sales for the first half of the 2009 financial year topping initial expectations. For full story, click here
Platinum prices have, however, halved since a record high of $2,290 an ounce in March 2008 on dwindling sales in the car industry and bleak prospects. For full story, click here
Strength in auto sales is good news for platinum as it is included in catalytic converters used in the auto industry. For full story, click here
Platinum declined for a third day, trading near a three-week low, as slumping demand from the auto industry cut demand for the metal that’s used mainly to make catalytic converters. For full story, click here
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