Palladium Still Surging, New Chinese Emissions Rules Will Push it Even Higher

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Tight supply and stricter vehicle pollution control standards on the mainland will continue to be key drivers of higher prices of palladium this year and next year, even as the industrial metal’s price reached a 13-year peak, analysts told the South China Morning Post.

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The introduction of a more-stringent “National IV” vehicle emissions standard in China and Beijing’s order last month to take pollution-prone pre-National III “yellow-label” vehicles off the road this year will drive up demand for new cars and the catalytic converters in them in the world’s largest economy.

Chinese palladium bar saw a 1.1 percent increase on Tuesday, August 12, reaching CNY 191.00 ($31.04) per gram and making it the biggest upwards shift of the day. US palladium bar gained 0.8 percent to finish at $873.00 per ounce. Japanese palladium bar held its value on Tuesday at JPY 2,870 ($28.08) per gram.

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The price of Chinese platinum bar fell 0.6 percent to CNY 308.00 ($50.05) per gram. US platinum bar finished the day down 0.3 percent to $1,464 per ounce. The price of Japanese platinum bar increased 0.1 percent to JPY 4,845 ($47.40) per gram.

After a 0.3 percent increase, Japanese gold bullion finished the day at JPY 4,297 ($42.04) per gram. Indian gold bullion prices rose 0.2 percent to INR 28,581 ($467.54) per 10 grams. At CNY 259.09 ($42.11) per gram, the price of Chinese gold bullion was essentially unchanged. The price of US gold bullion showed little movement yesterday at $1,308 per ounce.

Japanese silver saw its price rise 0.8 percent to JPY 655.00 ($6.41) per 10 grams. Indian silver prices inched up 0.3 percent to INR 44,500 ($727.96) per kilogram. Chinese silver finished the day up 0.2 percent to CNY 4,280 ($695.56) per kilogram. US silver prices rose 0.2 percent to $20.01 per ounce.

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