The PGM complex is pressing higher this morning as strike action in South Africa’s mining sector continues.

The PGM complex is pressing higher this morning as strike action in South Africa’s mining sector continues. Despite a recent concession by the Association of Mineworkers and Construction Union there is still concern that the impasse between the union and the world’s largest mining companies is far from being resolved. The AMCU has offered to give the mining companies three years to get wages for entry level workers to 12,000 rand, more than twice the pay entry level workers currently take home. However, the demands remain far outside the scope of what many consider feasible. Platinum continues to trade near the day’s high of $1482.70, now at $1480 (+1.3%). Palladium is out-shining the others, up ~1.5 with further support coming from increased tensions in the Crimean peninsula as Putin continues to rattle his sabre. U.S. markets have been on a roller coaster ride as nobody really quite knows what to expect from Mr. Putin.  In other domestic economic news, U.S. ADP non-farm payrolls were reportedly up 139,000 in the second month of 2014. The figures missed expectations and don’t necessarily paint a rosy picture ahead of Friday’s all-important government NFP data. The Fed’s beige book is on tap for this afternoon. Have a great day!