Platinum Tops $2100, Still on a Rising Trend

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The supply tightness is likely to continue. One way to alleviate that is by giving the miners sufficient energy so that they could produce, but that doesn't seem to be happening," said Michael Widmer, metals analyst at Lehman Brothers.

Platinum set a record high for the 13th straight session on Monday on lingering power problems in top producer South Africa that have hit mining and widened the gap between demand and supply.

The metal, mainly used in autocatalysts and jewellery, has jumped 22 percent this month, 38 percent so far in 2008 and nearly 75 percent in the past 12 months on supply problems in South Africa, which produces 80 percent of global platinum...

"The supply tightness is likely to continue. One way to alleviate that is by giving the miners sufficient energy so that they could produce, but that doesn't seem to be happening," said Michael Widmer, metals analyst at Lehman Brothers.

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