Pursuits
Palladium to Jump on Auto Sales, Russia, Ikemizu Says
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Palladium may extend a rally this year as surging car sales in China boost demand, while supply from top exporter Russia drops as stockpiles fall, according to the head of commodity trading in Japan at Standard Bank Plc.
The metal, used in pollution-control devices, may reach $1,000 an ounce for the first time since 2001, when the price jumped to an all-time high of $1,125, said Bruce Ikemizu, who’s traded commodities for more than 24 years. Palladium, also used for electronic components and jewelry, traded at $806 today.