NYMEX platinum and palladium futuresnended Wednesday’s trading sessionnwith minor losses as, analysts notednthat, despite news of a platinum minenclosure in South Africa, worries over supplynwere not enough to offset the PGMs’ncurrent bleak demand picture. Platinumnfor October delivery, the active month,nslipped $2.90 to settle floor trading atn$1,396.20/oz, while September palladiumninched $0.35 lower to settle at $578.05oz. News broke Tuesday that platinum producernLonmin shut down its South Africannmining operations after rival unionsnclashed at the site, reportedly leaving 10npeople dead. Analysts said the bullishnsupply development provided some supportnfor prices but failed to spark a strongnrally. A trader speculated Wednesday thatnthe Lonmin news was likely offset by bearishnnews on PGM demand.
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