After rocketing 200% last year, South African platinum shares extend surge in 2020

After soaring 200% in 2019, an index of Johannesburg-traded platinum stocks has maintained its blistering pace at the start of the new year, buoyed by record prices for the palladium the miners dig up alongside their main product.

The FTSE/JSE Africa Platinum Mining Index jumped 4.9% Wednesday, taking its advance this year to 6.5%, as palladium touched an all-time high above $2,100 an ounce, driven by strong consumption from carmakers, tight supplies and haven demand for precious metals.

Northam Platinum has led its South African peers so far in 2020, rising 8.7%. Impala Platinum Holdings, the market’s best performing stock in 2019 with a 291% gain, is up 6.5%. Anglo American Platinum, the world’s largest supplier of platinum and palladium, has gained 5.8%. The country’s overall benchmark index is 0.4% higher.

ZAR/USD
17.00
(-0.09)
ZAR/GBP
21.24
(-0.12)
ZAR/EUR
19.14
(-0.13)
ZAR/AUD
11.81
(-0.13)
ZAR/JPY
0.16
(-0.20)
Gold
1774.74
(+0.03)
Silver
18.05
(+0.01)
Platinum
808.00
(+0.25)
Brent Crude
42.78
(-0.79)
Palladium
1914.01
(+0.62)
All Share
54521.90
(-0.17)
Top 40
50179.89
(-0.26)
Financial 15
10150.02
(-0.64)
Industrial 25
76554.73
(+0.52)
Resource 10
50138.02
(-1.24)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
I'm not really directly affected
18% - 1590 votes
I am taking a hit, but should be able to recover in the next year
23% - 2077 votes
My finances have been devastated
34% - 3111 votes
It's still too early to know what the full effect will be
25% - 2250 votes
Vote