What do Record-breaking Auto Sales Mean for Palladium?

What do Record-breaking Auto Sales Mean for Palladium?

As many precious metals investors know, lately strong auto sales have been driving a bullish outlook on palladium due to the metal's use in catalytic converters for vehicles. However, when auto sales in both Canada and the United States broke records in November, palladium prices didn't immediately react. But why?

Platinum and Palladium Price Manipulation?

On Tuesday, a class-action lawsuit was filed that accuses BASF Metals, Goldman Sachs, HSBC Bank USA and Standard Bank of rigging platinum and palladium prices.

Future Looking Bullish for Palladium?

A strong automotive sector and other factors have analysts thinking the precious metal might be on the verge of a price rise.

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Company News

Polymet Reports Third Quarter Results

Polymet Reports Third Quarter Results

PolyMet Mining (TSX:POM) reported its financial results for the three and nine months ended October 31 2014. The company has also executed a confidential, non-binding term sheet for a loan facility of up to US$30 million, anticipated to close early in 2015.

Stillwater Mining to Delist From TSX

Stillwater Mining Company (NYSE:SWC, TSX:SWC.U) the only US miner of platinum group metals and the largest primary producer of PGM's outside of South Africa and Russia, has announced that it will voluntarily delist shares of its common stock from the Toronto Stock Exchange.

‘Turnaround Story’ at North American Palladium?

Writing for Seeking Alpha, David White suggested that North American Palladium (TSX:PDL) could be set to turn a corner soon. The author cited rising palladium prices as well as PAL's decision to sell its money-losing gold mine as supporting factors. Though he admits lower than expected profits have created a "significant credibility problem," for the company, White suggests that the trend seems ready for change.

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Market News

Citigroup Report Sees Palladium Demand Growing

A recent report from Citigroup says that palladium mine production will fall in 2014 as demand continues to rise, according to an article from the Northern Miner (subscription).

Platinum and Palladium to Supplies to Fall Short of Demand in 2015

For the fourth year in a row, platinum and palladium supplies are anticipated to fall short of demand, according to Bloomberg. Citing Johnson Matthey, the news outlet said that increased demand will make up for an increase in output from South African mines following protracted strikes earlier this year.

Russia Buying More Palladium?

According to Investing.com. Interfax has said that Russia will begin buying more palladium in 2015. The country has also been stockpiling gold as of late, and state agency Gokhran appears to be planning to hoard the metal, although Russia's Norilsk Nickel (MCX:GMKN) has said it wants to buy palladium from Gokhran.

Palladium Outperforming Other Precious Metals

Compared to platinum, gold and silver, palladium has run ahead of the pack to be the best performing precious metal year to date, according to Investing.com.

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