Seeking Alpha

Sprott Physical Platinum & Palladium Trust (SPPP) (SPPP)

  • Jul. 1, 2014, 11:31 AM
    • Platinum prices breach $1,500/oz. and palladium futures also jump as better than expected U.S. car sales data and a new strike in South Africa lured buyers into both markets.
    • Upbeat reports from GM, Ford, et. al. bucked expectations for a slowdown in car sales, boosting investor appetite for platinum and palladium, which are both widely used in car exhaust filters.
    • Meanwhile, a new strike by metal workers and engineers in South Africa have renewed concerns about supply after the country is still recovering from a five-month strike by platinum workers.
    • Platinum producers: AAUKF, AAUKY, IMPUY, LNMIF.
    | Jul. 1, 2014, 11:31 AM | 6 Comments
  • Jun. 23, 2014, 11:58 AM
    • South Africa's AMCU says its members agreed to a wage settlement that will end the country's longest-ever strike which has cost the mining industry 1.1M oz. in lost platinum production and helped shrink the country's economy by 0.6% in Q1 from a year earlier.
    • The world's three-biggest platinum producers - Amplats (AAUKF, AAUKY), Impala Platinum (IMPUY) and Lonmin (LNMIF) - say they each lost roughly a third of their annual production, and analysts say it will take at least three months to get production back to pre-strike levels after mines have been mostly idle for the past several months.
    • Platinum prices fell 1.1% to $1,437.70/oz. on the news.
    | Jun. 23, 2014, 11:58 AM | 2 Comments
  • Jun. 18, 2014, 9:59 AM
    • South Africa's platinum miners say the industry's main labor union has made new demands that go beyond a preliminary accord struck last week, which may delay an apparent agreement to end the five-month strike by 70K-plus mine workers.
    • AMCU, which has led the strike, now wants the new wage agreement to run for three years instead of five, seeks a once-time payment of ~$270 to each worker, and wants miner Lonmin (LNMIF) to rehire 235 workers it recently dismissed for participating in the strike.
    • Top platinum miner Amplats (AAUKF, AAUKY) and the union are scheduled to meet today to discuss the new demands; Impala Platinum (IMPUY) says some of the new issues raised by the union are "problematic" and that it "could still take some time" to sign a deal.
    | Jun. 18, 2014, 9:59 AM | Comment!
  • Jun. 12, 2014, 8:54 AM
    • South Africa’s top platinum companies and the biggest mineworkers union agree on proposals that the labor organization will take to its members in a bid to end a five-month pay strike.
    • The AMCU union is meeting members at mines today to get their views on the proposal, and the companies - Amplats (AAUKF, AAUKY), Impala Platinum (IMPUY) and Lonmin (LNMIF) - expect a response tomorrow.
    • More than 70K members of the union have been on strike over pay since Jan. 23, which producers say has cost 22B rand in revenue.
    | Jun. 12, 2014, 8:54 AM | Comment!
  • Feb. 25, 2013, 10:59 AM
    Counting on the Fed's dovish bias to win out, UBS goes against the grain by predicting a "major gold rally" this year, expecting the Fed to continue printing into Q3 when UBS' commodity strategists - in contrast to its economists - expect global growth to lose momentum. But investors have been dumping their gold ETF holdings in favor of industrial metals; last week, physical palladium ETFs saw their largest inflows ever.
    | Feb. 25, 2013, 10:59 AM | 3 Comments
Company Description
The Trust was created to invest and hold substantially all of its assets in physical platinum and palladium bullion. The Trust seeks to provide a convenient and exchange-traded investment alternative for investors interested in holding physical platinum an