PGMs remained firm last week with the benchmark Comex contracts of palladium and platinum gaining +2.64% and +1.62% respectively. During the week, platinum rose to a 10-month high of 1523.0 while palladium soared to 867.45, the highest level for more than a decade as investors forecast that the supply/demand outlook of both metals would tighten amidst rising auto sales in the US, Europe and China, while the aftermath of the South African strike which has so far reduced global supply.
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Weekly Fundamentals – Upside for PGMs Remains as Demand/Supply Balance Tightens
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