Anglo Platinum (OTC:AGPPY) (JNB:AMSPP) announced it could produce from 150,000 to 200,000 ounces of platinum than their original guidance, according to chief executive officer Neville Nicolau.
Nicolau also had this to say about palladium, "Palladium may be in deficit for most of the next decade as Russia depletes inventories, and uses for the metal increase."
Palladium prices are expected to soar this year as growing demand from the auto industry, along with low supply, should push palladium prices up going forward.
Showing posts with label Platinum Prices 2010. Show all posts
Showing posts with label Platinum Prices 2010. Show all posts
Thursday, May 6, 2010
Thursday, April 15, 2010
China Platinum Demand Driving Prices Up
Gold is of course grabbing the majority of the headlines lately, and rightly so, but that hasn't kept some of the other precious metals performing strongly so far in 2010, and that includes platinum and palladium, which have outperformed gold by a wide margin so far this year.
Platinum has ralled by 17 percent and palladium has performed even better at 25 percent gains in 2010. On the other hand, gold has been struggling at gains of about five percent.
With the possibility of increased demand in China for platinum and palladium for use in catalytic converters, and what seems to be a growing and new demand in the jewelry sector, there are expectations there will be a shortage of platinum in 2010, in contrast to a surplus last year on lower demand.
China has become the largest car market in the world now, which of course will be the primary driver of platinum and palladium prices, as it is with other raw materials it needs to grow its economy.
Some platinum and palladium companies have been performing strongly recently, as the market attempts to sort out whether or not the seeming growing demand for platinum and palladium is real and sustainable, which means it needs to be seen that China is continuing to grow, especially in the auto sector.
That news has been confirmed as far as pace of growth, now it'll need to be broken down more to find out the details.
Assuming the demand for platinum and palladium from China is real, and it does seem to be, that should continue to push prices up throughout 2010.
Platinum has ralled by 17 percent and palladium has performed even better at 25 percent gains in 2010. On the other hand, gold has been struggling at gains of about five percent.
With the possibility of increased demand in China for platinum and palladium for use in catalytic converters, and what seems to be a growing and new demand in the jewelry sector, there are expectations there will be a shortage of platinum in 2010, in contrast to a surplus last year on lower demand.
China has become the largest car market in the world now, which of course will be the primary driver of platinum and palladium prices, as it is with other raw materials it needs to grow its economy.
Some platinum and palladium companies have been performing strongly recently, as the market attempts to sort out whether or not the seeming growing demand for platinum and palladium is real and sustainable, which means it needs to be seen that China is continuing to grow, especially in the auto sector.
That news has been confirmed as far as pace of growth, now it'll need to be broken down more to find out the details.
Assuming the demand for platinum and palladium from China is real, and it does seem to be, that should continue to push prices up throughout 2010.
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