Platinum Futures Rise to Two-Week High as Supply Concerns Mount
- Zimbabwe asks miners to curtail power use during drought
- Platinum rebounds from six-year low reached last week
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Platinum futures climbed to the highest in almost two weeks as Zimbabwe asked mining companies to reduce power usage, damping the supply outlook for the metal.
Zimbabwe, the world’s third-largest producer of the mined metal, asked Impala Platinum Holdings Ltd., Anglo American Platinum Ltd. and other companies to reduce electricity consumption by 25 percent amid a water shortage that’s cut hydropower supply.