Platinum and Palladium Headed for Biggest Supply Shortfall Ever

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Platinum and palladium supply probably will fall short of demand for a 4th year in 2015 as more usage in vehicles helps compensate for rebounding South African mine output, according to Johnson Matthey PLC.

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Platinum demand will outpace supply by 1.13 million ounces this year and palladium’s deficit will be 1.62 million ounces, according to London-based Johnson Matthey’s platinum-group metals report. They would be the biggest shortfalls ever, based on data going back more than three decades for the metals.

On Monday, November 24, US palladium bar jumped up 3.8%, landing at $796.00 per ounce and making it the day’s biggest increase. The price of Chinese palladium bar increased 3.0% to CNY 174.00 ($28.41) per gram. Japanese palladium bar stayed flat at around JPY 2,885 ($24.50) per gram.

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After a 1.5% increase, Japanese platinum bar finished the day at JPY 4,590 ($38.98) per gram. At CNY 257.00 ($41.96), the price of Chinese platinum bar finished the market day up 0.8% per gram. The price of US platinum bar increased 0.3% to $1,208 per ounce.

Chinese gold bullion saw its price rise 0.9% to CNY 237.15 ($38.72) per gram. Indian gold bullion finished the day up 0.4% to INR 27,067 ($438.21) per 10 grams. Japanese gold bullion prices rose 0.2% to JPY 4,517 ($38.36) per gram. US gold bullion saw its price rise 0.2% to $1,196 per ounce.

The price of Indian silver declined 2.0% to INR 36,138 ($585.06) per kilogram. After a 1.1% increase, Chinese silver finished the day at CNY 3,520 ($574.75) per kilogram. US silver prices inched up 0.9% to $16.39 per ounce. Japanese silver finished the day up 0.3% to JPY 609.00 ($5.17) per 10 grams.

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