28th January 2013 Weekly Bulletin

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28th January 2013 Weekly Bulletin

Johnson Matthey London Base Prices at 0900 hrs, $/oz:

Pt Pd Rh
Monday 28th January 1,665.00 741.00 1,175.00
Tuesday 29th January 1,679.00 752.00 1,175.00
Wednesday 30th January 1,686.00 751.00 1,175.00
Thursday 31st January 1,672.00 744.00 1,175.00
Friday 1st February 1,688.00 759.00 1,175.00

The platinum and palladium markets remained supported by the recent announcements of mine closures by Anglo Platinum, with some intra-day volatility due to a battle between buyers who were attracted by possible supply disruptions and sellers of profitable long positions keen to book recent gains.

Platinum

On 29th January Angloplats agreed to postpone the start of its redundancy process by 60 days in order to discuss it with stakeholders. This took some of the heat out of the market activity and the JM price closed the week in London at $1674.

Palladium

Reports from a London seminar on the 25th that Russian state stocks of palladium are close to exhaustion, coupled with growing optimism about vehicle sales in the USA and China, gave the palladium price an extra boost, decoupling it from platinum and taking it to $760 on the 30th - a 16-month high - before closing the week at $744.

Rhodium

Rhodium was steady all week.

Johnson Matthey, 
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Hertfordshire SG8 5HE, 
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