Shanghai Lead to Stay High (2016-2-2)

[SMM Daily Review: US-Iran Peace Talk Expectations Rise, Silver Prices Fluctuate Mildly] SMM, September 23: Rising expectations of US-Iran peace talks pushed precious metals slowly higher. Stockpiling for the dual festivals drove downstream consumption to recover, but as silver prices climbed, stockpiling orders were closed out and exited the market. Mid-week trading weakened, with quotes concentrated at parity to a slight premium. Overall, the market lacked fresh macro guidance, and silver prices fluctuated mildly.

South Africa’s platinum sector recorded 18 mineworker fatalities by 14 September 2026, Minister of Mineral and Petroleum Resources Gwede Mantashe said at a mine safety summit on 17 September. The sector recorded 11 fatalities during the whole of 2025. These figures cover different lengths of time. Mantashe urged the industry to investigate fatalities promptly and strengthen worker protection. The increase brings mine safety into sharper focus for PGM producers and regulators, but his remarks did not announce a new rule, mine closure or change in output.

Magna Mining reported a 2.1-metre downhole interval at its past-producing Levack mine in Ontario grading 17.5 g/t platinum, palladium and gold combined, alongside 9.5% copper and 2.6% nickel. A separate West Main interval returned 4.6 metres grading 3.5 g/t of the three precious metals combined, alongside 1.7% copper and 4.0% nickel.​ The results help Magna assess areas that could contribute metal following a potential restart. They do not establish separate platinum or palladium grades, additional reserves or production; a formal restart decision remains pending.