Platinum Group Metals Price Bulletin - 12th July 2010 to 16th July 2010

Johnson Matthey London Base Prices at 0800 hrs, $/oz:

	Pt	Pd	Rh
Monday 12th July	1526	459	2450
Tuesday 13th July	1515	458	2450
Wednesday 14th July	1535	466	2425
Thursday 15th July	1528	466	2400
Friday 16th July	1521	464	2400

Monday saw investors interpreting impressive employment data from Canada as a sign of improving North American economies and buying dollars at the expense of commodities. Continuing concerns over European sovereign debt and the spectre of a "double dip" recession briefly exercised gold but a negative aura surrounded industrial metals and they malingered by comparison.

Platinum

The initial commodity sell off contributed to a softening of platinum prices before decent physical buying offered support. Thereafter platinum remained relatively strong on the weakening dollar. Although industrial relations in South Africa were somewhat improved, mine safety has once again forced itself to the top of the government’s agenda following the fatal accident last week.

Palladium

Continuing to show more resilience, palladium held on to its gains, perhaps on the back of several announcements regarding increased car manufacturing capacity in China and South/Central America, where the metal predominates in the catalysts employed.

Rhodium

Fresh selling pressure emerged in the market and prices fell as consumers backed away. No significant buying interest emerged even at lower levels.

Johnson Matthey,
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