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Gold/Mining/Energy : SOUTHERNERA (t.SUF) -- Ignore unavailable to you. Want to Upgrade?

To: gemsearcher who wrote (5680)	2/14/2000 10:36:00 AM
From: Andrew	Read Replies (1) \| Respond to of 7235

I just noticed something. SUF is now higher than WSP again. Does this mean we should sell SUF or buy WSP? Does anyone know? Andy

To: gemsearcher who wrote (5680)	2/14/2000 11:39:00 AM
From: Gord Bolton	Respond to of 7235

Monday February 14, 8:43 am Eastern Time Note: this article has a followup with more information. FOCUS-Palladium at high, Russian metal the key (Updates prices, recasts with dealer and analyst comment) By Marius Bosch LONDON, Feb 14 (Reuters) - Palladium reached an all-time high of $600.00 an ounce on Monday amid tight supply and soaring demand from the automobile industry, dealers and analysts said. Palladium was fixed at its highest ever level of $600.00, an ounce on Monday, $12 up from the previous fix and around 35 percent up from the start of the year. Dealers said ongoing concern over deliveries of metal from Russia, which accounts for over 70 percent of the world's palladium supply, and record industrial demand from the U.S., Europe and Japan were behind the sharp price increase. Palladium has risen from around $120.00 an ounce early in 1997 after successive supply hold-ups from Russia. ``One can only describe the platinum metals market (palladium and platinum) as out of the control,' Dresdner Kleinwort Benson said in a report. Since the beginning of the year demand for palladium has soared, mostly from car companies needing the metal to make autocatalysts to clean dirty exhaust gases. Precious metals refiners Johnson Matthey Plc (quote from Yahoo! UK & Ireland: JMAT.L) has forecast that demand from the car industry would reach 4.89 million ounces in 1999, about 58 percent of total demand of 8.3 million ounces. Palladium is also used in electronics and dentistry. NO SUBSTITUTES YET FOR COSTLY PGMS Car makers said although current prices were hurting, no viable substitutes for palladium and sister metal platinum were expected to emerge soon. Russian bureaucratic hold-ups have seen prices shoot higher in the first six months of each year since 1997 and analysts said it was now possible that deliveries could be delayed until mid-March or later. ``Russia's acting President Vladimir Putin still has not signed export quotas for PGMs for what Russia's State Depository descibes as 'technical' reasons and it is possible that no additional supply of Russian PGMs will be seen until mid-March or even later,' Merrill Lynch said in its latest Commodity Market Trends. Producers in South Africa, the world's biggest platinum producer and second-biggest supplier of palladium, have said they were unable to increase exports because output was near full capacity. Dealers said they expected liquidity to remain very tight. Platinum lease rates were currently around 36 percent, down from 55 percent last week, which may explain a drop in the platinum price on Monday as metal was lent into the market. ``We expect liquidity to remain very tight and the lack of supply will likely result in higher platinum-group-metals prices later during the week,' one Swiss trader said. Platinum was last quoted at $535.00/$545.00 from the New York close at $547.40/$557.40 and palladium at $590.00/$600.00 from $595.85/$605.85. biz.yahoo.com