For the past week or two, the price of platinum at the NYMEX futures exchange has gone into repeated transient episodes of backwardation. As this author has explained in past articles, backwardation in a precious metal usually means that a shortage exists in the marketplace, and hidden momentum is building for a very strong upward movement.
Platinum Group Metals Mining News
The big talk these days is of the debt ceiling in the US having to be raised. The US is lucky they can do this unlike other countries such as Spain, Portugal, Greece, Ireland and others who need to be bailed out or pass huge austerity measures.
Commodities don’t all perform in the same way. In any given year, a particular commodity will go gangbusters and outperform the group.
In 2001 palladium reached $1,080/oz when gold was only $300/oz and platinum $715/oz. Three factors will help fuel palladium to surpass its 2001 high and well beyond says Market Oracle: Chinese auto production is expected to go from 18 million units in 2010 to a staggering 30 million vehicles by 2020. A vehicle's catalytic converter requires about 1/20th of a troy ounce of palladium and/or platinum and since platinum costs 124% more than palladium ($1,735 vs $776) it is reasonable to assume automobile manufactures will elect to use cheaper palladium. Secondly the looming palladium supply deficit and thirdly the exemplary success of pure palladium ETFs which already have over $1 billion in assets representing roughly 1.3 million oz of palladium taken off the market.
Shares in the platinum and precious metals mining company rose as much as 6.4% at the start of the session to an intraday high of $4.98 before the broad market soured during Fed Chairman Bernanke’s second day of testimony on Capitol Hill.
Falls among commodity issues sapped the strength of Britain’s top share index yesterday, as worries over global growth clouded the demand outlook for metals and oils. At the close, the FTSE 100 index was down 59.48 points.
In this article I am going to take a look at three reports covering what the US and Europe consider critical or strategic minerals and materials.
The lure of platinum is driving Energy and Scarcity and Outstanding Investments Editor Byron King's investment choices for precious metals. In this exclusive interview with The Gold Report, he explains the looming demand and global opportunities. "We could see platinum prices skyrocket," he says.
Carbonization over PFA-protected dispersed platinum: an effective route to synthesize high performance mesoporous-carbon supported Pt electrocatalysts
An alternative and effective route of synthesizing mesoporous carbon supported Pt nanoparticles is introduced. In reverse order to the conventional synthetic route, carbonization occurs after dispersion of platinum.
Platinum Today reports that tantalum and platinum may soon replace the materials in a silicon-based flash memory.
The management of the Zondereinde division of Northam Platinum Limited (Northam) confirms that the National Union of Mineworkers (NUM) has declared a dispute with the company.
Bloomberg reports that platinum group metals dipped today as concerns over the European debt crisis grow.
Stillwater Mining, the only platinum and palladium producer in the U.S., announced on Monday that it will acquire Peregrine Metals for US$487.1 million. Peregrine Metals is a publicly-traded exploration and development company with gold and copper projects in Argentina and Peru. The company is listed on the Toronto Stock Exchange.
Three-liquid-phase extraction and one-step separation of platinum, palladium, and rhodium in the system composed of diisoamyl sulphide (S201), polyethylene oxide-polypropylene oxide random block copolymer (EOPO), Na2SO4, and H2O were investigated.