Quantcast
Get breaking news alerts via email

Click here to manage your alerts
Palladium reaches 13-year high as strike continues
Commodities » Failed talks to end five-month strike in South Africa are blamed.
First Published Jun 11 2014 02:58 pm • Last Updated Jun 11 2014 02:58 pm

Palladium settled at its highest price in more than a decade as a mining strike in South Africa continues to pinch production of the metal.

Palladium for September delivery rose $5.60 to settle at $860.15 on Wednesday. That’s the highest settlement price since February 2001, according to FactSet data.

Join the Discussion
Post a Comment

Negotiations to end the nearly five-month strike ended earlier this week without an agreement. The strike started Jan. 23 and has squeezed supplies of the industrial metal, which is used to make catalytic converters that filter car exhaust.

South Africa is the second-largest producer of palladium behind Russia. Speculations that sanctions against Russia could disrupt exports have also pushed up prices.

Other metals were mixed in Wednesday trading. Copper for July slipped a penny to $3.04 a pound. Platinum for July fell $1.10 to $1,481.10 an ounce.

Gold for August rose $1.10 to $1,261.20 an ounce, while silver for July was flat at $19.17.

In other trading, prices for corn and wheat dropped after the U.S. Department of Agriculture raised its forecast for worldwide stockpiles and production of both crops.

Wheat fell 12 cents to settle at $5.89 a bushel. Corn dropped 5 cents to $4.41 while soybeans slipped 17 cents to $14.46.

Warmer weather in the Midwestern U.S., combined with rainfall to parched growing regions, has knocked crop futures down this month. Wheat has dropped 6 percent, and corn has dropped 5 percent.

Crude oil for July delivery rose 5 cents to $104.40 a barrel on the New York Mercantile Exchange.


story continues below
story continues below

In other energy futures trading on the Nymex:

— Wholesale gasoline rose 3 cents to $3.00 a gallon.

— Natural gas slipped 2 cents to $4.51 per 1,000 cubic feet.

— Heating oil added 2 cents to $2.90 a gallon.



Copyright 2014 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Top Reader Comments Read All Comments Post a Comment
Click here to read all comments   Click here to post a comment


About Reader Comments


Reader comments on sltrib.com are the opinions of the writer, not The Salt Lake Tribune. We will delete comments containing obscenities, personal attacks and inappropriate or offensive remarks. Flagrant or repeat violators will be banned. If you see an objectionable comment, please alert us by clicking the arrow on the upper right side of the comment and selecting "Flag comment as inappropriate". If you've recently registered with Disqus or aren't seeing your comments immediately, you may need to verify your email address. To do so, visit disqus.com/account.
See more about comments here.
Staying Connected
Videos
Jobs
Contests and Promotions
  • Search Obituaries
  • Place an Obituary

  • Search Cars
  • Search Homes
  • Search Jobs
  • Search Marketplace
  • Search Legal Notices

  • Other Services
  • Advertise With Us
  • Subscribe to the Newspaper
  • Access your e-Edition
  • Frequently Asked Questions
  • Contact a newsroom staff member
  • Access the Trib Archives
  • Privacy Policy
  • Missing your paper? Need to place your paper on vacation hold? For this and any other subscription related needs, click here or call 801.204.6100.