Interviews with government officials across Africa reveal smuggling operations that span at least nine countries and involve tonnes of gold spirited over borders.
There have been no factors that would trigger a significant declines in prices, with port congestion continuing and major users sticking to output plans, , according to Marubeni Corp.
The Global Palladium Fund expects the surplus to be concentrated in low-grade nickel pig iron (NPI) and to depend heavily on an expected increase in supply from Indonesia materializing.