Even after two years of gains, industrial metals trade well below 10-year mean prices. Silver looks cheap, but gold, crude may be fully priced already.
Uncertainty around the charter has deterred investment into a sector that accounts for 8 percent of gross domestic product in the world's top platinum producer.
Prices of steelmaking raw materials dropped to multi-week lows on Thursday as a festering trade row between China and the United States kept risk appetite low.