Platinum Group Metals Price Bulletin - 21st November 2011 to 25th November 2011

Johnson Matthey London Base Prices at 0800 hrs, $/oz:

	Pt	Pd	Rh
Monday 21st November	1586	601	1650
Tuesday 22nd November	1561	592	1650
Wednesday 23rd November	1560	598	1650
Thursday 24th November	1554	591	1650
Friday 25th November	1541	581	1650

Industrial commodity prices slid for much of this week in the face of negative economic news from Europe and China. In signs that the eurozone crisis may be spreading beyond the periphery, Germany’s bond auction was heavily undersubscribed – around 35% of the 10-year bonds offered to the market mid-week remained unsold. Data from China showed factory activity levels dropping to their lowest in 32 months, also putting pressure on commodities and adding to the generally negative outlook.

Platinum

In contrast to its performance so far in November, platinum traded well below $1600 this week. With poor investor confidence and liquidation in the gold market, a continuing wage dispute between Lonmin and the National Union of Mineworkers did little to support the price. In light trading due to the Thanksgiving holiday in the US, platinum edged downwards to $1,541 on the 25th.

Palladium

Palladium also drifted generally lower this week, trading below $600 for the first time in a month. 

Rhodium

Ruthenium softened by $5 to a new Johnson Matthey Base Price of $125, while rhodium and iridium were unchanged at $1,650 and 1,085 respectively.

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