This morning in metals news, Japanese carmakers tested the safety of Kobe Steel products, palladium outshines gold and the global nickel deficit widened in August.
Kobe Steel Materials Pass Safety Checks
Toyota, Honda and Mazda gave Kobe Steel, Japan’s embattled third-largest steelmaker, a touch of good news Thursday by saying its products are safe, despite the recent data falsification scandal.
According to a report in The New York Times, the products fell short of advertised standards, but met with regulators’ standards (as well as those of the carmakers).
Palladium Continues Charmed Run
The palladium price recently eclipsed that of platinum for the first time since 2001 — and the metal’s rise has people taking notice.
The upward trend for palladium has even caught the eye of the gold industry, according to the Financial Times.
Our Stuart Burns covered palladium’s rise in his post earlier this morning.
Nickel Market Showed 6,700-Ton Deficit in August
The nickel market deficit deficit rose to 6,700 tons in August, according to data released by the International Nickel Study Institute.
Global production was 176,800 tons, with demand at 183,500 tons.