Platinum Group Metals Price Bulletin - 17th May 2010 to 21st May 2010

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

	Pt	Pd	Rh
Monday 17th May	1706	520	2800
Tuesday 18th May	1685	508	2800
Wednesday 19th May	1656	490	2775
Thursday 20th May	1580	446	2725
Friday 21st May	1497	416	2725

The start of Platinum Week in London saw the publication of Platinum 2010 reporting that both platinum and palladium were in surplus during 2009, but forecasting that both should be closer to balance in 2010.

Initially, industrial metals moved lower with investors still wary of the fragile economic recovery. A surprise decision on Wednesday by Germany to ban "naked" short selling of some financial products and government bonds then resulted in a major liquidation, "industrial" commodities taking the brunt of the sell off.

Platinum

Platinum and Palladium

In thin trading conditions, with most of the pgm industry in London for Platinum Week, platinum and palladium were both on the defensive as the week started. Prices fell significantly from the levels seen last Friday and both then became prime targets for liquidation as the more profitable assets were sold first. Heavy losses saw platinum losing more than 13% and palladium more than 23% since last week.
 

Palladium

Rhodium

With consistent selling pressure throughout the week, and little buying interest, rhodium softened.

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