US PGMs rally with gold on positive credit news

摘要

NYMEX platinum and palladium futures both sawnstrong rallies in Thursday trading, as the metalsnwere pulled higher by an upswing in gold prices,nand were also helped by new strength in the euronagainst the US dollar, as the eurozone outlooknlooked more positive. Platinum for July delivery, thenactive month, shot $21.70 higher to $1,606/oz innMetals Daily Comex Close April 12, 2012n2 Copyright © 2012 The McGraw-Hill CompaniesnMetals Daily is published every business day. No reproduction permitted without express written authorization. Prices indexes and assessments are based onnmaterial collected from actual market participants. Platts makes no warranties, express or implied, as to the accuracy, adequacy or completeness of the informationnand assumes no liability in connection with any party’s use of it. For subscriptions, customer support: support@platts.com, or phone: 800-PLATTS-8,n+1-212-904-3070 (direct).nMetals Daily COMEX Close EditionnThe McGraw-Hill CompaniesnCopyright © 2012 by Platts, The McGraw-Hill Companies, Inc.nBank of Canada Exchange RatesnUS$ per GBP noontime 1.5937nUS$ per Aust$ Noontime 1.0439nUS$ per JpnYen Noontime 0.0124nUS$ per EURO Noontime 1.3170nMetals Week proprietary pricesncts/lbnMW US Al market 101.75-102.75nMoly oxide $/lb 14.15-14.30nBased on 200mt of business (0mt US, 120mtnEurope, 20mt Japan,n40mt India, 20mt South Korea.)nMoly oxide trans $/lb 14.15-14.30nBased on 200mt of business (0mt US, 120mtnEurope, 20mtnJapan. 40mt India, 20mt South Korea.)nUS FeMo 16.10-16.40nEuropean FeMo $/kg 34.20-34.60nSpot tungsten ore $/stu 320.00-330.00nAPT – US $/stu 395.00-420.00nSteel NA Free Mkt 18-8 $/gt 1792.00-1837.00nFerrotungsten $/kg 54.00-55.00nNickel melting $/lb 8.403-8.555nNickel cathode $/lb 8.403-8.555nNickel plating $/lb 8.603-8.755n99.8% Spot cobalt cathode $/lb 15.00-15.75n99.6% Zambian cobalt $/lb 14.70-15.00n99.3% Russian cobalt $/lb 14.80-15.20n99.8% Europe Co $/lb 15.00-15.60nVanadium – V2O5 $/lb 5.50-6.00nFerrovanadium $/lb 14.25-14.75nTantalite Ore $/lb 37.00-42.00nNY dealer Tin cts/lb 1057.00n$/flnMercury US domestic 1750.00-1950.00nMercury Free Market 1750.00-1950.00n$/kgnNY dealer indium 540.00-570.00n$/tr oznNY dealer platinum 1580.00-1630.00nNY dealer palladium 630.00-655.00nNY dealer rhodium 1300.00-1375.00nNY dealer iridum 1050.00-1085.00nNY dealer ruthenium 95.00-115.00nNY osmium 350.00-400.00nThursday floor trading, while June palladiumnjumped $16.50 to settle at $653.10/oz. Innafter-hours trading as of 3:40 pm EDT, Julynplatinum soared $22.80 to $1,607.10, afternrallying to an intraday high at $1,608.70,nfrom a session low at $1,582.05. June palladiumngained $16.45 after-hours to $653.05,nafter reaching an intraday high at $655.90,nfrom a day’s low at $636. News that Italynheld a successful bond auction and alsonnews that Spain’s budget-control measuresnappeared set to pass a parliamentary votenThursday, helped equities markets reboundnin Europe and in the US, which in turn helpednthe euro regain lost ground. The euro movednto $1.3190 against the US dollar Thursdaynfrom the lower $1.31 level earlier in thenweek. “The fact that the euro has made suchna big move, the US dollar’s weakened considerably,”nhe told Platts. He added that therenwas support for platinum around the $1,580,n$1,590 levels from physical buyers and thatnpalladium found support in the low $630s.nThe trader said the PGMs were also pullednhigher by gold’s $20 rally Thursday. The USnDow Jones Industrial Average Index ralliednas the eurozone credit crunch turned morenupbeat Thursd