Palladium Jumps to 13-Year High on Bets Automaker Use to Climb
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Palladium rose to a 13-year high on signs that demand will climb for the metal used in pollution-control devices in cars as supplies dwindled following labor turmoil in South Africa, the world’s second-biggest producer.
On the New York Mercantile Exchange, palladium futures for June delivery climbed 0.5 percent to settle at $861.90 an ounce at 1:13 p.m. The price reached $867.45, the highest for a most-active contract since Feb. 23, 2001. The metal rose for the ninth straight session, the longest rally since September 2012.