The fifth annual Platinum Group Metals Seminar, co-sponsored by CPM Group and IPMI, convened at NYMEX in New York City on Sept. 18, 2002. Insightful discussions of PGM supply and demand engaged an audience drawn from a wide spectrum of industry interests. Jeff Christian, CPM Group Managing Director, reviewed the growth in PGM demand over the past 25 years and suggested that this growth will resume following recovery from the current downturn. Automotive uses of PGMs, in particular, are expected to grow 6 to 6 1/2 percent annually going forward. Also, during the 1990s, backwardation in the PGM markets discouraged inventory building; going forward, a move to contango will likely prompt a shift in the way PGM users manage their inventories.
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