Johnson Matthey Profit Hit, China Palladium Price Down on Daily Index

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Johnson Matthey, after giving a positive outlook for the PGM market prices (which MetalMiner dissected recently), reported a profit loss due to platinum and palladium prices.

Reuters reports that “Johnson Matthey, the world’s largest maker of catalysts that control vehicle emissions, was badly hit by the impact of weaker metals prices on its division that refines, markets and distributes platinum – used in catalytic converters – and other precious metals.”

However, the company still expects US automotive demand to support its bottom line moving forward – which MetalMiner sees as troublesome.

Where PGM, gold and silver prices stand today:

today's metal prices - MetalMiner IndXChinese palladium bar had the largest decline on Wednesday, June 5, dropping 1.8 percent. US palladium bar closed 0.9 percent lower. The price of Japanese palladium bar remained essentially flat.

The price of Chinese platinum bar declined 0.3 percent. US platinum bar prices saw a 0.2 percent decline. Japanese platinum bar finished the day down 0.1 percent.

The price of Japanese gold bullion fell 0.9 percent. US gold bullion fell 0.8 percent on Wednesday. Chinese gold bullion ended the day after a 0.3 percent drop yesterday. Indian gold bullion held its value on Wednesday.

The price of Chinese silver fell 1.0 percent. US silver fell 0.8 percent yesterday. Indian silver finished the day down 0.1 percent. Japanese silver gained 0.1 percent.

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