Platinum May Climb on Lonmin Supply Shortfall; Palladium Futures Decline

(Bloomberg) -- Platinum, little changed in New
York, may rise on supply concerns after Lonmin Plc, the world's
third-biggest producer, delayed some sales. Palladium fell.

Lonmin, based in London, postponed deliveries of as much as
90,000 ounces of platinum until after September after a South
African plant breakdown. A fall in grade, a measure of the metal
contained in ore, will reduce production this year and next,
Lonmin said. Platinum reached a record $1,353.80 an ounce on
May 7.


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Platinum Drops From Seven-Week High as South African Supply Concerns Fade;

(Bloomberg) -- Platinum fell from a seven-week high
in New York as supply concerns diminished in South Africa, which
produces about 80 percent of the metal. Palladium was little
changed.

Most platinum companies in South Africa started biennial
salary negotiations last month. The National Union of
Mineworkers yesterday said it would respond today to an offer by
Impala Platinum Holdings Ltd., the world's second-biggest
producer. Anglo Platinum Ltd. increased a pay offer to try to
avert a strike last month.


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Platinum Rises as Potential Strikes May Disrupt Supplies; Palladium Gains

(Bloomberg) -- Platinum rose in New York on concern
potential strikes in South Africa, a source of almost 80 percent
of the metal, may disrupt supplies. Palladium also gained.

Last week, the price of platinum had the biggest weekly gain
in two months as unions threatened to walk off the job over wage
disputes. Anglo Platinum Ltd. raised a pay offer last month to
try to avert a strike and employees at Impala Platinum Holdings
Ltd. turned down a proposed wage increase on June 27. The two
companies are the world's biggest platinum producers.


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Platinum Rises as Potential Strike May Disrupt Supplies; Palladium Falls

(Bloomberg) -- Platinum rose for a sixth consecutive
session, the longest rally in more than a year, as a potential
strike in South Africa took the focus from a possible slowdown in
demand from carmakers, the biggest users. Palladium dropped.

Platinum supplies are threatened by ``widespread South
African industrial action'' as wage talks that started last month
still aren't settled, UBS AG analysts led by London-based Daniel
Brebner wrote in a report yesterday. Prices had dropped on
declining car registrations in Germany, Europe's biggest economy.


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Platinum Falls From Two-Week High as Dollar Strengthens; Palladium Drops

(Bloomberg) -- Platinum fell from a two-week high
in New York as a stronger U.S. dollar reduced the metal's appeal
as a hedge against inflation. Palladium also dropped.

The dollar rose against the euro and traded near a four-
year high versus the yen earlier today. A Federal Reserve report
showed manufacturing in the Philadelphia area accelerated in
June at the fastest pace in more than two years. Platinum, which
is mostly traded in dollars, generally moves in the opposite
direction of the U.S. currency.


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