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Palladium extends record run on supply shortfall
Palladium soared to an all-time high on Tuesday, extending a record run driven by concerns of a shortage of the metal used in emissions-controlling devices for automobiles. Palladium was up 1.2% to $3,007.66 per ounce at 1136 GMT, after jumping to a record of $3,017.18. Prices of the autocatalyst have jumped about 21% since mid-March when top producer Nornickel announced disruptions at two mines, exacerbating market concerns about a shortage. “Palladium lives in its own world with low liquidity and strong momentum potentially taking it higher still,” said Ole Hansen, head of commodity strategy at Saxo Bank, ... (full story)