72% of the Base Interest Rate Rise Already Factored into Mortgage Fixed Rates

Article posted at The Market Oracle http://www.marketoracle.co.uk/Article62895.html
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Wolf Minerals Provides Funding Update

Australian speciality metals producer Wolf Minerals Limited (ASX:WLF,LSE:WLFE) reports it has now executed all necessary full form standstill, amended and restated agreements relating to the company’s debt facilities with its existing senior lenders  and bridge loan facility to support Wolf’s short-term working capital requirements until the end of October.

Wolf Minerals primary focus is the advancement of a large tungsten resource at its Drakelands Mine, located at Hemerdon, in southwest England.

As quoted from the press release:

The company has received guarantor consent from the German government’s untied loan guarantee scheme (Ungebundene Finanzkreditdeckung – UFK) to enter into and implement the relevant agreements, which (amongst other things) confirm the deferral of principal, interest and other amounts that were due in relation to the senior debt at the end of July 2018.

In addition, the company has received:

  • the initial tranche of £2 million from the additional £4 million, secured priority loan (Priority Bridge Loan) under the amended and restated bridge facility; and
  • the initial £0.9 million of the £1.7 million available from the cash balance previously restricted for use on the noise and vibration management plan.

The further standstill arrangements provided for by the agreements will commence on satisfaction of the relevant conditions precedent, which Wolf expects to take place within the next few days. Those arrangements include certain waivers of, and amendments to, the senior debt and bridge facility conditions for any non-compliance prior to or during the standstill period. The further standstill arrangements terminate on the earlier of October 28, 2018 or the occurrence of specific limited events of default.

Click here to read the full press release: 

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India Crypto Regulations Hopefully Finalized by End of 2018

India Crypto Regulations

India has been weighing its regulations on cryptocurrency for the past few months and it seems the government will finally come to a conclusion about blockchain and digital currencies by the end of 2018, Quartz India reports.

India Crypto Regulations

The Finance Ministry Panel in India is still evaluating how to treat blockchain and cryptocurrencies separately. The crypto ban in the country was first announced back in early April of this year, but the country’s regulators didn’t act on anything until July.

All of India’s crypto ban announcements have come by way of local …

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Gold Price to Plunge Below $1000 – Key Factors for Gold & Silver Investors

Article posted at The Market Oracle http://www.marketoracle.co.uk/Article62898.html
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Cannabis Retail Shops Coming to Ontario in 2019

Consumers in Ontario will have to wait until April 1, 2019 to buy legal cannabis in adult-use shops as the provincial government outlines its rollout of the drug distribution.

After weeks of speculation, on Monday (August 13) the Ontario government confirmed its plan for the sale of adult-use cannabis in the province through private retailers.

The recently elected Premier Doug Ford will scrap the system put in place by the previous Ontario administration, in favour of an open system with private retailers in mind. However the province will only have online-sales available for consumers after the legalization of cannabis on October 17.

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“We will be ready to put in place a safe, legal system for cannabis retail that will protect consumers,” Minister of Finance Vic Fedeli said. The minister added added the government has no plans to be in the business of operating a network of cannabis shops in Ontario.

A report from Marijuana Business Daily indicated the Ontario system is expected to see up to 500 retail licenses by the spring of 2019.

The government announced the introduction of an approving seal for “legitimate retailers” carrying product from licensed producers (LPs) only.

This decision from the Ontario government represents yet another delay for cannabis consumers in the province to gain legal retail options to purchase the drug.

Following the approval of Bill C-45 in the House of Commons and the Senate, Canadian Prime Minister Justin Trudeau confirmed the enactment of the bill was set in October, to accommodate the needs from the provinces to properly set up their models.

Municipalities in Ontario will be given what the provincial government is calling a “one-time window” to decide whether or not they will allow retail shops of recreational cannabis.

The province announced retailer hopefuls will have to follow a set of new mandates in order to be approved.

“Ontario will begin to consult on a number of rules all retailers will be mandated to follow including set hours of operation and staff training,” the province said.

This process will include conversations with Ontario municipalities, Indigenous communities, law enforcement, public health advocates, businesses and consumer groups as well as fellow province representatives.

Investor takeaway

Several cannabis companies have expressed interest in the retail landscape particularly with the province of Ontario. It will be key for investors to follow the performance of companies with retail aspirations during Tuesday’s (August 14) trading session.

One recent case of a cannabis company making a specific purchase for an entry into the retail space was Canopy Growth (TSX:WEED; NYSE:CGC) acquiring Hiku Brands (CSE:HIKU).

On Monday the Horizons Marijuana Life Sciences Index ETF (TSX:HMMJ), which holds close to 40 cannabis stocks, closed the day with a 3.41 percent decline and a price of C$ 15.28.

Don’t forget to follow us @INN_Cannabis for real-time news updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: Hiku Brands is a client of the Investing News Network. This article is not paid-for content.

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ICOs Break New Records: More than $12 Billion Raised in 2018

ICOs raised

Multiple reports this year have concluded that ICOs raised more money in 2018 than all of the ICOs launched during the 2017 bull market. A recent study from Autonomous Research states “Through June of 2018, we saw $ 12 billion of funding flow through into token offerings.”

The research firm goes on to suggest its estimates are likely conservative, explaining “Our numbers track only those ICOs with $ 1 million or more raised, so the numbers could be slightly higher…”

Earlier in the Year

Autonomous Research is not alone seeing the growing ICO trend. …

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The Federal Reserve: Secretly Sticking It to Americans for Over 100 Years

Article posted at The Market Oracle http://www.marketoracle.co.uk/Article62899.html
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The Year So Far: Ivanhoe Looks Busy

Robert Friedland’s Ivanhoe Mines (TSX:IVN) has released its financial results for Q2 2018 as it powers its three major projects through to production.

In its Monday (August 13) release, the company also exhaustively details everything it’s been up to in the first half of the year, from the release of its inaugural sustainability report, to the announcement of a deal with China’s CITIC (HKEX:0267) and a constant stream of development updates.

Looking at the numbers, the company had a total comprehensive loss of US$ 38 million for Q2 compared to a loss of US$ 11.4 million for the same quarter of 2017. Ivanhoe explains that this was primarily due to a 16-percent weakening of the South African rand between the two periods.

A loss on paper says little, however, as over the quarter the arrangement with CITIC has led to over US$ 800 million in investments in Ivanhoe’s three African projects — the Kipushi zinc-copper project and the Kamoa-Kakula copper project in the Democratic Republic of Congo (DRC), and the Platreef platinum-group metals project in South Africa.

“Finance income for the three months ending June 30, 2018, amounted to US$ 10.9 million, and was US$ 1.7 million more than for the same period in 2017 (US$ 9.2 million). The increase mainly was due to interest earned on loans to the Kamoa Holding joint venture to fund operations that amounted to US$ 9.7 million in 2018, as the accumulated loan balance increased,” the company said.

Over Q2, the company spent US$ 2.8 million on exploration, with almost all going towards its Western Foreland licenses in the DRC. While exploration expenses are down year-on-year by over 70 percent, that’s mainly because the three major projects are so advanced they no longer require exploration.

“In Q2 2017, US$ 9.5 million of the total US$ 9.6 million exploration and project expenditure related to the Kipushi Project,” said the company — revealing that in 2018 the Western Foreland licenses will receive a huge increase in funding overall.

The Western Foreland licenses, where the company completed 6,857 meters of drilling in Q2, are to the west of the Kamoa-Kakula project and target high-grade copper trends “emanating from Kamoa North.” Drilling is also allowing the company to detail the characteristics of the Makoko area.

“In September, Ivanhoe expects to be in a position to provide an important update on its Makoko and Kamoa North exploration programs,” the company stated.

The arrangement with China’s CITIC, announced in June, will see C$ 723 million injected into the major projects, while anti-dilution rights by Zijin Mining (HKEX:2899), which holds a stake in Ivanhoe, will see another C$ 78 million go towards the projects.

The deal makes Beijing-headquartered CITIC the Canadian company’s largest single shareholder, with Friedland now in second place with a 17-percent stake. Friedland will also become a co-chairman alongside a CITIC-appointed co-chairman.

The Platreef project has seen progress with the sinking of shaft 1 to 750 meters with a planned final depth of 982 meters. The target orebody is located 783 meters below the surface and is projected to be reached in Q3. Meanwhile, surface work on shaft 2 at the platinumpalladiumnickel-copper-gold project is continuing.

The copper-zinc Kipushi project is powering ahead also, with an improved mineral resource estimate released at the end of July that will enhance the mineral resources available for the definitive feasibility study due to be released at the end of this year or the beginning of 2019.

The Kamoa-Kaluka project is still undergoing a prefeasibility study, with a mineral resource estimate released earlier this year.

In Toronto, shares of Ivanhoe were trading down 1.91 percent at C$ 2.30 at 2:30 p.m. EST on Monday.

Don’t forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Scott Tibballs, hold no direct investment interest in any company mentioned in this article.

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First Majestic Silver Reports US$40-million Loss in Q2

First Majestic Silver’s (TSX:FR,NYSE:AG) second-quarter results show a US$ 40-million loss compared to a profit this time last year. The news drove shares down by almost 15 percent.

The Canadian miner reported a loss of 22 cents on a per-share basis. In terms of one-time gains and costs, losses were 7 cents per share and all-in sustaining costs (AISC) were US$ 16.43 per payable silver ounce, which is a 3-percent increase quarter-on-quarter.

“Looking ahead to the second half of 2018, we expect higher operating margins along with a significant reduction in our consolidated AISC to between US$ 13.28 to US$ 14.84 per ounce,” stated Keith Neumeyer, president and CEO, in a Monday (August 13) release.

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“[This will be] primarily due to higher production rates from the start-up of the 2,000 tonnes per day roaster at La Encantada, higher silver grades at La Encantada and Del Toro, increased production at San Dimas and the decision to place La Guitarra on care and maintenance,” he added.

In addition to the previously mentioned losses, the company also incurred in an impairment charge of US$ 31.7 million due to placing the La Guitarra mine on care and maintenance.

The miner’s revenue during Q2 stood at US$ 79.7 million — a 36-percent increase compared to Q1 of this year — but it reported mine operating losses of US$ 2.3 million compared to earnings of US$ 1.4 million in the second quarter of last year.

Despite the glaring declines in First Majestic’s second quarter, the company managed to come out on top in terms of silver production.

First Majestic recorded production of 2.8 million ounces of silver during the quarter, up 27 percent from Q1. The uptick was mainly thanks to the addition of the San Dimas mine to its portfolio.

“During the 52 days since being acquired, San Dimas made an immediate impact to our production profile and bottom line by producing 808,923 ounces of silver plus 11,348 ounces of gold and generated mine operating earnings of US$ 5.1 million,” noted Neumeyer.

Additionally, the AISC at San Dimas came in at US$ 5.41 per ounce, making it our lowest cost and largest-producing mine. Silver grades at La Encantada and Del Toro saw significant improvements at the end of the second quarter and continue to date,” he added.

San Dimas has contributed US$ 5.1 million in mine operating earnings during its 52 days of operation.

First Majestic gained the silver-gold asset in Mexico when it officially acquired Primero Mining in May of this year. The deal was announced in January 2018 at a cost of US$ 320 million.

As of 2:02 p.m. EST on Monday, shares of First Majestic were down 14.82 percent, trading at C$ 7.24.

Don’t forget to follow us @INN_Resource for real-time news updates!

Securities Disclosure: I, Nicole Rashotte, hold no direct investment interest in any company mentioned in this article.

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EOS’s Fourth Global Hackathon Announced for San Francisco

EOS news

In EOS news today, Block.one announced the location for its fourth EOS Global Hackathon.

We’re going to San Francisco! Developers, designers and entrepreneurs – are you ready to join us Stateside on Nov 10-11 for part four of our first-of-its-kind blockchain hackathon series? Sign up here for the first-ever #EOSHackathon event in the US: https://t.co/yJgFUxcHdv pic.twitter.com/wuVHaWkrCa

— EOS (@EOS_io) August 13, 2018

EOS Global Hackathon

The fourth location for the EOS hackathon was released today by EOS’s maker Block.one. It will take place in San Francisco, California on November 10-11th. Like all …

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Anatomy of Hyperinflation

Article posted at The Market Oracle http://www.marketoracle.co.uk/Article62901.html
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AngloGold Cancels Equinox Gold Earn-in Joint Venture

Equinox Gold’s (TSXV:EQX) Brazil-based earn-in joint venture (JV) with AngloGold Ashanti (JSE:ANG) has been terminated by AngloGold, the Canadian miner announced on Monday (August 13).

The JV involved Equinox’s Aurizona greenfields concessions in Brazil, where AngloGold has already spent about US$ 9 million since exploration started in August 2016. AngloGold also completed more than 43,000 line kilometers of high-resolution aeromagnetic radio magnetic surveying and approximately 10,000 meters of drilling on eight targets, plus extensive geochemistry and geologic mapping surveys.

“AngloGold’s exploration programs have significantly advanced regional geological models and have highlighted several untested targets that warrant further exploration,” said Scott Heffernan, executive vice president, exploration, at Equinox Gold.

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“While our current priority in the region is near-mine exploration at the Aurizona gold mine to expand the reserve and resource base, we will continue to review and interpret AngloGold’s exploration data to prioritize regional exploration targets for future drilling, on our own or with a [JV] partner,” he added.

AngloGold put much effort into social engagement, which allowed it to establish strong communication and relationships with local landowners. Equinox Gold will maintain these relationships with the goal of restarting regional exploration efforts in the future.

As per the current reserve model, Aurizona has a mine life of 6.5 years based on reserves identified in the Piaba and Boa Experanca pits. Equinox believes that there is potential for the mine life to be extended with exploration success along strike from existing reserves.

Full-scale construction is currently ongoing at Aurizona, with the target of pouring gold by the end of this year. The mine will be an open-pit operation and will produce around 136,000 ounces a year.

As of 11:45 a.m. EST on Monday, Equinox Gold was down 3.54 percent, trading at C$ 1.09.

Don’t forget to follow us @INN_Resource for real-time news updates!

Securities Disclosure: I, Nicole Rashotte, hold no direct investment interest in any company mentioned in this article.  

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Moving Averages Help You Define Market Trend – Here’s How

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Chloe Holzinger: Why Solid-state Batteries Are the Future

At this year’s Lithium Supply and Markets conference in Las Vegas, the Investing News Network had the chance to catch up with Chloe Holzinger, research associate at Lux Research.

Speaking about the energy storage market, Holzinger said she sees the space growing in the future. In fact, Lux Research expects the market to grow from US$ 30 to US$ 35 billion in 2016 to more than US$ 100 billion in 2020.

“The energy storage market is driven mostly by mobility and stationary storage at the moment, although consumer electronics is where all started,” she said.

She also shared insight on solid-state batteries and why she believes this type of battery is the future.

“Solid-state batteries are a rare innovation in the energy storage industry, as they enable the use of lithium metal anodes, which have a much higher energy density than graphite anodes,” she said.

In addition, this type of battery has a solid-state electrolyte that would replace the current flammable liquid electrolyte and separator, she explained, “making the battery inherently safer.”

That said, solid-state batteries are “very much in development stage, it’s still a very new technology which doesn’t have a mature supply chain for metallic anodes at the moment that can be scaled to mass production,” Holzinger said.

“Our projections for the use of solid-state batteries in consumer electronics is early 2020s … but [the batteries] will become more cost competitive in the 2030s,” she added.

Listen to the interview above for more insight from Holzinger about solid-state batteries. You can also click here to listen to our full Lithium Supply and Markets interviews playlist on YouTube.

Don’t forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in contributed article. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

Lithium in 2018

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Crypto Movement: Ethereum (ETH) Drops Below $300 and Stellar (XLM) Passes EOS

Ethereum news

The cryptocurrency market has been all over the place lately with its price movements, and today, most of the top 10 cryptocurrencies are in the red. Today, we’re going to track the latest Ethereum news and Stellar news.

Stellar (XLM) has made a phenomenal rise on the market lately, but it seems that the world’s second largest cryptocurrency, Ethereum (ETH), has dipped to a year-low today.

Ethereum (ETH) Dips Below $ 300

Ethereum news today has ETH hitting its year-low of below $ 300, as the coin took an unexpected nosedive during earlier trading. Ethereum hasn’t …

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Stock Market Downtrend to Continue?

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Palladium Leading the Platinum-group Metals Market and Beyond

Platinum-group metals (PGMs) are six similar transitional metals that include palladium, platinum, rhodium, ruthenium, iridium and osmium. Each has similar physical and chemical properties to the others in the group, and they tend to occur together in the same deposits.

Classified as rare precious metals, PGMs have significant industrial applications, most notably in the manufacturing of catalytic converters in vehicles. While the group’s headliner is platinum, it is its sister metal, palladium, that’s been the best market performer over the past decade.

In fact, according to Bloomberg & US Global Research, between 2008 and 2017 palladium was the best performing of all commodities. Market trends for both palladium and platinum have been positive the past few years. “The use of platinum in industrial applications set a new record in 2017,” according to a recent report by Johnson Matthey (LSE:JMAT).

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But it is palladium that really shines. “Automotive demand for palladium is predicted to grow by around 2 [percent] in 2018, setting a new all-time high of 8.57 million ounces.” Long-term, demand for PGMs is expected to remain robust, particularly for palladium. Today’s palladium supply is sourced mainly as a by-product, with more than three-quarters of global production coming from Russia and South Africa.

Supply concentrated mainly in South Africa and Russia

Palladium, platinum and the rest of the PGMs family rarely occur outside of nickel and copper mineralization. “Mineable deposits of PGMs are very rare in the Earth’s crust,” according to the International Platinum Group Metals Association (IPA), hence why the majority of the world’s supply of these metals comes by way of by-products. In fact, about 33 percent of global PGMs production originates from primary nickel mines.

The IPA reports that South Africa and Russia account for 58 percent and 26 percent of global PGMs production, respectively, while the US, Canada and Zimbabwe account for most of the remainder. Russia’s number-one producer is Norlisk Nickel (OTCMKTS:NILSY), while Anglo American Platinum (JSE:AMS) reigns in South Africa. Glencore (LSE:GLEN) and Vale (NYSE:VALE) dominate in North America, particularly in the prolific Sudbury jurisdiction of Ontario. There are only two primary producing palladium mines: the Stillwater Complex (Sibanye-Stillwater (NYSE:SBGL)) in Montana, and the Lac des lles mine (North American Palladium (TSX:PDL)) in Ontario, Canada.

Russia and North America’s deposits are generally high in palladium, while the South African and Zimbabwean deposits are high in platinum. “Primary and secondary production of PGMs create large revenues and thereby contribute greatly to the economic growth and wealth of the countries where the metals are mined and processed,” as per the IPA. However, the limited geographic concentration of PGMs-producing regions across the globe makes this market highly susceptible to supply disruptions.

Global palladium supply levels took a slight hit in 2017 from some shaft closures and technical issues at key mines in South Africa, lower nickel and copper production out of Glencore and Vale’s North American operations and lower shipments out of Russia. In fact, the market saw a deficit of more than 800,000 ounces last year, boosting prices.

Russia and North America’s PGMs-containing deposits have much higher concentrations of palladium than their African counterparts, making those regions key suppliers for the market’s current demand. By-product palladium output from Canadian nickel mining is expected to take a hit as PGMs grades in Sudbury ore decline and deposits are exhausted, leaving catalytic converter manufacturers looking for new sources of supply. However, there are few PGMs-hosting projects on the map.

“The PGMs market is facing a deficit that isn’t likely to be resolved anytime soon,” said Harry Barr, chairman and CEO of New Age Metals (TSXV:NAM,OTCQB:NMTLF,FWB:P7J.F). “The world’s producing mines aren’t capable of increasing production to meet demand and the aboveground stockpiles which typically fill the gap are quite low if not entirely depleted.” New Age Metals is developing the River Valley PGMs property in Sudbury, Ontario. The project is considered the largest undeveloped primary PGMs deposit in North America.

Diverse range of industrial uses

As industrial metals, platinum and palladium are used across a broad range of industries, including chemical, electrical, glass and medical. In their double role as precious metals, the two are also in high demand from the jewelry and investment markets.

Research firm Johnson Matthey reported that in 2017 the use of platinum and palladium in industrial applications reached record levels, buoyed by demand from the glass and chemical sectors. “The ‘Made in China 2025’ initiative — designed to reduce the country’s reliance on imports of chemical feedstocks — has stimulated massive investment in large new facilities integrating crude oil refining with downstream petrochemicals production, which are expected to come on stream over the next two to three years,” says Johnson Matthey in its May 2018 report on the PGMs market.

These projects are expected to require significant amounts of platinum and palladium, which are excellent catalysts for chemical reactions. In 2017, chemical producers bought more than half a million ounces of platinum for the fourth time in five years. Palladium was also highly favored by the chemicals sector, with purchases from producers up 28 percent. Growth in this sector is expected to continue supporting PGMs demand throughout 2018.

Demand for platinum from the glass-making sector was up by almost 50 percent in 2017 on new developments in the fiberglass segment of the market. Fiber-reinforced plastics are playing a larger role in several applications in vehicle and wind turbine fabrication, as well as construction. Further gains from the glass market are expected in 2018 as demand from display-glass manufacturers is predicted to reach a seven-year high.

Primary market: Vehicle catalytic converters

The primary market for platinum and palladium is in vehicle catalytic converters — the part of the car that converts harmful gases produced by hydrocarbon emissions into less-harmful substances. “Roughly 80 percent of palladium and 40 percent of platinum ends up in catalytic converters,” the Investing News Network has reported. “The catalytic converter market is set to grow at a CAGR of 8.05 percent from 2017 to 2021 and is seen reaching a market size of $ 55.16 billion.”

Global demand for catalytic converters is driven by the increasing number of vehicles on the road worldwide, alongside increasing government-imposed mandates aimed at reducing vehicular pollution. Catalytic converters — and the metals that make them — are still expected to have a role in the automobile market as the industry transitions to electric vehicles, as they will be necessary components for hybrid vehicles.

Global demand for PGMs in catalytic converters for the heavy-duty vehicles segment is forecast to rise by 60 percent in 2018, according to Johnson Matthey, with rapid growth projected over the next three years on rising demand from China and India.

Palladium has better thermal stability than platinum and can withstand the temperatures of gasoline exhaust. Palladium is more widely used in the catalytic converter market for gasoline-powered cars, while platinum is the go-to metal for the diesel-fueled vehicle market. Demand for diesel-powered vehicles has been shrinking, decreasing platinum demand from the catalytic converter market.

Demand for palladium from the global catalytic converter market reached a record high of 8.39 million ounces in 2017, compared to 3.29 million ounces for platinum. According to Johnson Matthey analyst predictions, demand for palladium from this sector will expand by 2 percent in 2018 to reach another record high of 8.57 million ounces, compared 3.18 million ounces for platinum.

Conclusion

Platinum may have been long recognized as the head of the PGMs family, but it’s palladium that’s now leading the way. The contrasting markets for these two metals — palladium’s strong fundamentals and platinum’s lagging performance — are expected to diverge further throughout 2018. As evidenced by its stellar performance in the past decade, palladium doesn’t just rule the roost in its own family, but is also leading the pack against many of the world’s hottest commodities.

Investors can expect a significant supply deficit for palladium on decreasing aboveground stocks and increasingly robust demand across a wide variety of industrial applications for the metal, specifically in the automotive industry. The concentration of the majority of palladium production into only a few regions places a great deal of emphasis on the need for a more diverse geographic supply.

This INNspired article is sponsored by New Age Metals (TSXV:NAM,OTCQB:NMTLF,FWB:P7J.F). This article was written according to INN editorial standards to educate investors. 

The post Palladium Leading the Platinum-group Metals Market and Beyond appeared first on Investing News Network.

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