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Platinum Use in Cars Expected to Increase to $7 Billion
Dec. 15, 2011 02:35PM PST
Precious Metals InvestingMining Weekly reported carmakers will use $7-billion worth of platinum in catalytic converters next year, diminishing overstock as production declines.
Mining Weekly reported carmakers will use $7-billion worth of platinum in catalytic converters next year, diminishing overstock as production declines.
As quoted in the market news:
Barclays Capital believes that supply will exceed demand by 81 000 oz. Morgan Stanley expects an average price of $1 829/oz next year, which would translate into auto catalysts using metal valued at $6.99-billion.