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

To: DRT who wrote (71)	12/10/1998 7:19:00 AM
From: DRT	Respond to of 364

Palladium Rises on Russia Worries By CLIFF EDWARDS AP Business Writer Wednesday December 9, 5:09 pm Eastern Time Palladium futures rose sharply Wednesday on the New York Mercantile Exchange amid growing concern Russian shipments of the metal will trickle to a virtual standstill, depriving Western manufacturers who use it in cars, electronics and for jewelry. On other markets, energy futures continued their slide on concerns about weak demand and amply supply, while grain and soybeans also fell sharply. Palladium futures jumped on concerns there will be lower output amid sharply higher demand for the industrial metal next year. Palladium has become the metal of choice in manufacturing catalytic converters for cars, which serve to reduce auto emissions. Russia produces nearly 75 percent of the world's palladium, most of it from its giant Norilsk Nickel mine. But the company and the country have undergone turmoil in the past two years that have sharply limited exports, beginning around this time and lasting through much of spring. Palladium for March delivery rose $10.80 to $284.85 an ounce. biz.yahoo.com