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Gold/Mining/Energy : Houston Lake Mining [HLM-ASE] -- Ignore unavailable to you. Want to Upgrade?

To: DRT who wrote (68)	11/19/1998 12:03:00 PM
From: DRT	Respond to of 364

FYI. American Metal Market News in Brief - Nov. 19, 1998 China appetite for platinum grows by ROBERTA C. YAFIE NEW YORK, Nov. 18 -- A 40-percent jump in Chinese demand for platinum jewelry fabrication to at least 500,000 troy ounces will offset shrinking Japanese consumption and a loss of the auto catalyst market share to palladium, according to Jeremy Coombes, general manager for marketing in the precious metals division of Johnson Matthey Plc, London. Palladium prices continue surge LONDON, Nov. 19 -- Palladium prices continued a two-day surge to the highest level since early August, fixing at $292 per troy ounce in London Thursday morning. The fixing was up almost $15 an ounce from Tuesday when refiner Johnson Matthey Plc forecast continuing higher automotive consumption of the metal despite tight world supplies. Traders said they foresaw limited continuing upward movement, noting Johnson Matthey's conclusion that Russia, palladium's largest supplier, is pursuing a strategy of keeping palladium prices in a $250- to $300-an-ounce range and might expand sales to pursue that goal. But Michael C.F. Steel, market research director for the London-based refiner, noted that Russia is believed to be selling from inventories that could be exhausted within two years.