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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: pater tenebrarum who wrote (104035)5/24/2001 1:34:40 AM
From: craig crawford  Read Replies (1) of 436258
 
>> they've been touting substitutes ever since platinum briefly traded above 600 in the late '80s... and nothing has materialized <<

I'm not sure what substitutes you are referring to, but they are coming for catalytic convertors.

>> imo price elasticity of demand is virtually non-existent in the pgm's (in fact only in dentistry is it more pronounced). <<

There is lots of substituting taking place depending on which PGM is more expensive. Palladium used to be cheaper so it was used more. When it skyrocketed to $1100/oz there was quite a bit of substituting, some back into platinum, and some into gold and other base metals. Now with automotive catalysts they have to have both in varying ratios. In other industrial use like electronics you can have some substitution into base metals or gold for instance. (not without a trade-off however, which is usually reliability)
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