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Palladium Rebounds as BMW Means Catalyst for Bigger Shortage
May. 31, 2011 08:48AM PST
Precious MetalsBloomberg Businessweek reports palladium’s biggest shortage in three decades means this year’s worst-performing precious metal may rebound.
Bloomberg Businessweek reports palladium’s biggest shortage in three decades means this year’s worst-performing precious metal may rebound.
The market news is quoted as saying,
The 1.6 million-ounce deficit seen by Standard Bank Plc explains why prices for the metal used in catalytic converters will rise 24 percent by Dec. 31, based on the median estimate in a Bloomberg survey of 24 analysts and traders. Autocatalysts are fitted to 95 percent of new cars and global sales will rise 5.1 percent to 76 million this year, according to Oxford, England- based J.D. Power Automotive Forecasting.