Platinum Group Metals Price Bulletin - 21st April 2008 to 25th April 2008

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

 PtPdRh
Monday 21st April   2028   457   9125
Tuesday 22nd April   1980   454   9125
Wednesday 23rd April   2038   457   9125
Thursday 24th April   2010   448   9125
Friday 25th April   1960   438   9125



Platinum

Despite several unrelated incidents inciting more record oil prices, the trend for metals was in the opposite direction as a strengthening dollar eroded investor interest. A sell off in thin trading conditions had platinum continuing its recent decline and although industrial bargain hunters seized the opportunity, the resultant recovery was short lived. Reports of a development in diesel autocatalyst technology, which would replace platinum with silver, brought the typical knee jerk reaction from investors, and increased the downward pressure. In fact the application is fairly limited, targeting only agricultural vehicles and generators, and is some way off introduction – 2012 being the goal. News that the world’s third largest platinum producer, Lonmin, had cut their platinum sales targets from 860K oz to 775K oz cushioned the blow, but was not sufficient to stem the negative sentiment.


Palladium

Palladium moved in parallel to platinum and gold.


Rhodium

Rhodium held firm, seeing firm interest at the current price level.



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