Millennium Trust Company, LLC has announced the launch of its enhanced Precious Metals program. The company hopes to modify its palladium, platinum, gold, and silver portfolios. It has also expanded its precious metals IRA Program. Scott McCartan, CEO of Millennium Trust is quoted saying: “Since many investors interested in precious metals will be self directing [...]
Johnson Matthey study estimates that 960,000 ounces of palladium were sold from Russian state stocks during 2009. This is compared with mine supplies of 6.14 million ounces, or 7.77 million ounces of gross palladium demand. The end of the study shows the sales of Russia and its shipments of palladium from Russia to Switzerland from [...]
Noront Resources Ltd. (“Noront”) (TSX VENTURE: NOT), has announced focused on its significant and multiple, high-grade nickel-copper-platinum-palladium, chromite, gold and vanadium, has announced that it will be a part of the CEO clips on Business News Network (BNN) in Canada. BNN will feature Noront beginning May 15, 2010. Click here to access the entire Press [...]
Johnson Matthey PLC (JMAT.LN), a specialty chemicals company, has released its annual report and said that in 2009 palladium market was in a 760,000-troy-ounce surplus. The company added that demand for palladium fell 6.3% to 7.77 million ounces. Automakers has also cut their palladium purchases by 9.3% to 4.05 million ounces. In the US palladium [...]
Metal palladium gross demand fell 17.3 percent from China’s consumption of 24.3 percent in 2009, according to the Chinese jewelry sector. Johnson Matthey, world leader in advanced materials technology is quoted saying: “The retail picture for palladium jewellery is still mixed within China. Palladium retains a strong position in some provinces, particularly in the West [...]
World’s top nickel and palladium miner, Mining and Metallurgical Company Norilsk Nickel (MMC Norilsk Nickel), has announced its return of profit in 2009. Net profit reached $2,65-billion versus a revised loss of $555-million in 2008. Norilsk was quoted saying: “Labour expenses decreased by 25% compared to 2008 as a result of our cost-cutting programme and [...]
Impala Platinum (Implats), world’s second-largest platinum producer, said on Monday that their palladium production 26% in the March quarter, compared with the production in Q1 of 2009 The company produced 283 000 oz of palladium in the quarter. Implats produced 368 000 oz of platinum this first quarter, which was less than the 385 000 [...]
The start of 2010 has shown a new exchange traded funds (ETFs) for both palladium and platinum. The auto industry, specifically gasoline engines have been using palladium. The less established European ETFs increased the demand palladium. Russia is the world’s largest producer of palladium at this time. GFMS predicts that palladium will show a larger [...]
Palladium’s price reign as compared to platinum for over four years may come to an end due to fewer purchases by investment funds and China’s fewer car-sale incentives. According to J.D. Power Automotive Forecasting in Oxford, England, there is a drop of 8.7 percent in q3 from q2 of 2010 in China’s auto sales while [...]
According to commodity strategist at RBS Daniel Major, since there is an increase in aluminum (Al) of $500 per metric ton its ETF is more likely than Palladium (Pd). This means that for Q1 of 2010 the ETF for palladium consumption worldwide was equivalent to 28%. David Thurtell, a Citigroup analyst is quoted saying: “The [...]
Get our independent commentary on palladium trends and companies delivered to your inbox.
