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
17.49
(+0.90)
ZAR/GBP
22.83
(+1.35)
ZAR/EUR
20.54
(+1.13)
ZAR/AUD
12.50
(+1.28)
ZAR/JPY
0.16
(+1.63)
Gold
1914.41
(-5.61)
Silver
24.83
(-14.54)
Platinum
931.00
(-5.42)
Brent Crude
44.95
(+1.33)
Palladium
2081.07
(-6.36)
All Share
57168.24
(+0.72)
Top 40
52831.61
(+0.76)
Financial 15
10215.75
(+3.21)
Industrial 25
75524.64
(+1.14)
Resource 10
58677.82
(-0.46)
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