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Gold/Mining/Energy : Idaho consolidated, IDO listed on V.S.E. -- Ignore unavailable to you. Want to Upgrade?

To: tanoose who wrote (79)	11/18/1999 3:44:00 PM
From: Taff	Respond to of 112

1999 PGM Supply and Demand Forecasts by Johnson Matthey Platinum-Group Metals (PGMs) Deficits in supplies of the platinum-group metals are seen as pushing prices to their recent high levels. Traditionally platinum has been used for automo-bile catalysts and jewellery, as well as other industrial purposes. Over the last few years, as environmental regulations have forced manufacturers to further clean the exhaust from combustion engines, the demand for palladium and rhodium in automotive catalysts has soared. On Tuesday, Johnson Matthey, a PGM-refining company, released its most recent estimates for demand and supply for the rest of 1999 and for 2000. It expects platinum demand to exceed supply by more than 10% this year, the largest-ever deficit, primarily the result of erratic supplies from Russia. Johnson Matthey is projecting platinum demand of 5.6 million ounces, boosted by a 38% increase to 850,000 ounces for use in Chinese jewellery. Palladium would also see a deficit in 1999, with a demand of 8.3 million ounces exceeding supply by 630,000 ounces. Although South Africa and other producers are trying to increase their PGM production, they are not expected to cover the shortfalls created by intermit-tent Russian production? shortfalls that account for the recent strength in the prices of these metals. Price forecasts, especially for palladium, of which Russia produces more than 65% of the world?s supply, are dependent on the Russians? perceived ability to produce and export PGMs. Price volatility is expected until regular exports from Russia are re-established. Platinum closed today at US$444.00/ounce, while palladium closed at US$413.50/ounce. Global Demand .......Global....... Supply....... Deficit Platinum (ounces) 5,590,000 .......5,060,000 .......530,000 Palladium (ounces) 8,300,000 .......7,670,000 .......630,000 Rhodium (ounces) 525,000 .......500,000 .......25,000