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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (34255)	5/22/2003 9:35:38 PM
From: Raymond Duray	Read Replies (1) \| Respond to of 74559

Sorry Jay, Re: I wonder what would happen if Soros and his buddies also put on... Mr. Soros is somewhat preoccupied at the moment. You'll have to wait. He's just now setting up a watchdog committee to keep very close tabs on what Bechtel, Halliburton, Bush and Cheney are about to do with the proceeds from the sale of Iraq's oil. Apparently Mr. Soros is a bit suspicious of the rhetoric and motivations of the other George... :) Imagine that! Ciao!

To: TobagoJack who wrote (34255)	5/22/2003 9:40:27 PM
From: jrhana	Read Replies (1) \| Respond to of 74559

I remember reading somewhere that Newmont in fact was not legally liable for the hedges of this particular quasi-subsidiary

To: TobagoJack who wrote (34255)	5/23/2003 12:30:29 AM
From: elmatador	Read Replies (1) \| Respond to of 74559

GM poised to use palladium to cut emissions By Kevin Morrison Published: May 22 2003 22:27 \| Last Updated: May 22 2003 22:27 General Motors, one of the world's largest industrial buyers of precious metals, has signalled that it is ready to switch making autocatalysts - used to cut car exhaust emissions - out of palladium rather than platinum. The change follows a plunge in the price of palladium, once the world's most expensive metal when it peaked at $1,085 (?927) per troy ounce in 2001. It has since dropped about 85 per cent to just under $170 - a $500 discount to its sister metal, platinum. David Andres, GM's purchasing director for commodity traded metals worldwide, said: "We are looking closely at it. The economics look quite appealing. A $500 gap between the platinum and palladium price...makes a lot of sense to switch and we have been doing for some applications." Mr Andres said GM had recently started to use palladium in three autocatalyst models which had previously used platinum. Over the past two years vehicle manufacturers have almost halved their consumption of palladium as prices peaked because of concerns about supply from Russia, the world's largest producer. Over the same time, platinum usage by automakers was up 40 per cent. The auto industry accounted for about two-thirds of total palladium usage last year, and US carmakers are the biggest single users as North American domestic vehicles are larger than cars made for Europe or Asia. The use of palladium in the manufacture of mobile phones, personal computers and other information technology equipment has dropped by more than two-thirds since the mid-1990s as the electronics industry switched to other metals, such as nickel. Palladium prices are also depressed due to production outstripping demand by more than 1m ounces in the past two years. Mr Andres said he was more comfortable with the price outlook for palladium, which recently touched six-year lows, while platinum prices are close to 23-year highs. "We have a [palladium] oversupply issue, demand from the electronics industry has gone, stocks are building and prices are low. It is completely the reverse of what happened a few years ago when there were concerns about supply, the electronics industry was significant buyers and prices kept on going up," he said.

To: TobagoJack who wrote (34255)	5/23/2003 12:37:58 AM
From: smolejv@gmx.net	Respond to of 74559

Great post, Jay. An unhedged nugget; I see Hannibal Lecter whisper "Maurice... think!". RegZ dj PS: bot JPM 04 leap puts yesterday. No wonder they always show justice with eye blinds;