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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Horgad who wrote (23604)	12/20/2004 10:00:44 PM
From: Archie Meeties	Read Replies (1) of 110194

Because manufacturers enter into long term contracts with suppliers in an attempt to make costs "knowable". Until they expire, re-engineering catalysts to use more pd than pt are on hold. Also, the supply picture for pd is bearish. Last numbers I saw were about 1mill oz oversupply for 2003. On the other hand, a recent catalyst innovation incorporates pd into diesel catalyst. Previously, they were exclusively pt.

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