Here's the impressive bit and as to why the PGM's just keep powering on. ------------------------------------------------------- These metals, part of the platinum-group metal category, were supported by data showing China imported around 103,600 ounces of palladium last month, its third-highest monthly imports on record, according to a research note from Barclays Capital.
Meanwhile, platinum imports of around 377,700 ounces in March had more than tripled on year.
Investors have locked onto to the recent recovery in auto sales around the globe and have piled into platinum-group metal exchange-traded funds, relatively new instruments that are similar to mutual funds but are backed by physical assets. The growing popularity of these ETFs are pulling metal volumes out of actively traded markets, thus exacerbating the bid on supplies.
Investors have been moving into exchange-traded funds for palladium and platinum on ideas that improving auto demand will spur more consumption of the metals, thereby driving prices higher. ---------------------------------------------------------
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NKP Price at posting:
64.0¢ Sentiment: Hold Disclosure: Held
