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Platinum costs less

-- Purchasing, 5/8/2008

Platinum future prices for July delivery have slipped to $2,000/oz on the New York Mercantile Exchange from $2,100-plus in the March spot market, and could slip more. Analysts say a 66% price gain from last August will cause makers of jewelry and car pollution-control components to replace platinum with cheaper metals, such as palladium, which costs about one-quarter as much.

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Monday Midday Business Report (January 15, 2008)
January 15 edition – Includes market alerts for scrap steel, iron ore, copper, steel wire rod, NAND Flash chips, DSPs, and ocean-freight rates. Plus, China may cut tin exports. Watch It Now

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