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Mining Weekly reported analysts are anticipating palladium shortages in 2012 pushing prices to new highs.
Mining Weekly reported analysts are anticipating palladium shortages in 2012 pushing prices to new highs.
As quoted in the market news:
The median of 28 analyst estimates compiled by Bloomberg calculates that the price of palladium may climb to $882.50/oz this year, the highest since February 2001. Shares of OAO GMK Norilsk Nickel, the world’s biggest palladium producer, rose 17% in Moscow trading this year. Mining companies are reportedly struggling to expand output fast enough to compensate for the decline in sales from Russian reserves.