Platinum falls about $11 as supply surplus looms

摘要

The precious-metals complex was fairly steady in Wednesday trading, with the exception of platinum, which dropped about $11 as the metal faces a significant supply surplus this year. NYMEX platinum for July delivery, the active contract, fell $11.40 to close at $847.70/oz, while June palladium dipped 10 cents to $1,332.90/oz. Commerzbank analysts in a note Wednesday cited a report by research institute Metals Focus that sets out a markedly more dire outlook for the platinum market, compared with forecasts from the World Platinum Investment Council and Johnson Matthey.