[B] NY Precious Metals Review: Platinum, palladium down in light volume
By Deborah Kinirons, BridgeNews
New York--Sept. 13
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Meanwhile, lease rates in platinum and palladium have been stable over
the past couple of months, even though the market has seen higher prices.
This would mean the market has been underpinned by short-covering and
short-term industrial demand, Kaplan said.
"As more supply flows into the marketplace I think these markets will
head significantly lower, as is the cyclical pattern over the last 4 to 5
years," Kaplan said.
Platinum and palladium are remaining volatile, in part on nervousness
associated with the status of Russian exports to Japan. Russia's largest
platinum group metal producer, Norilsk, has said that it will make
deliveries for the 2000 contracts in September and prices have fallen on
jitters that the material will start arriving in the Japanese market
place. However, traders continue to warn that if material doesn't arrive,
or is insufficient to meet needs, prices could swing again to the upside.
For the not faint-of-heart, the recent price decline represents a buying opportunity, IMO. Once again, the Russians can't sell what they don't have.
Sleeper |
