NYSE:SWC - Post Discussion
Post by
pacer001 on Dec 14, 2012 9:56am
MORE GREAT news!
Friday December 14, 2012 9:16 AM
Palladium has fared better than other precious metals so far Friday after the HSBC initial December Purchasing Managers Index for China rose to 50.9, its strongest level in more than a year, says Standard Bank. Most precious metals are not moving much in early trading. "The obvious exception being palladium, which received a boost from the China's manufacturing reading," Standard says. "This is most likely as a consequence of China's preference for palladium as an auto catalyst. Incidentally, yesterday's good news on U.S. retail sales might also have lent some support to palladium, as the U.S. auto sector is the other large center of demand for this metal." Both countries are markets mainly for gasoline-powered autos, which can use palladium, which is less expensive than platinum, which in turn is needed for diesel-powered vehicles such as those popular in Europe. As of 9:07 a.m. EST, Nymex March palladium was up $8.90, or 1.3%, to $700.55 an ounce.
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