Auto growth to crimp palladium supply: exec
Nov 29, 2012 | 03:49 PM
| Thorsten Schier
Tags
palladium,
Norilsk Nickel USA,
MMC Norilsk Nickel,
Bob Lapple,
Thorsten Schier
NEW YORK — The palladium market will likely be tight next year due to growing global automotive production, supply setbacks in South Africa due to labor disruptions and a shrinking Russian government stockpile of the material, according to a top executive at Norilsk Nickel USA Inc., a subsidiary of Russia’s OAO MMC Norilsk Nickel.
"We see growth continuing in the automobile market, certainly," vice president Bob Lapple told AMM on the sidelines of ETF Securities Ltd.’s annual precious metals conference in New York, with higher output in the United States and emerging economies offsetting an expected decline in European production.....
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