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Palladium prices surge to record on concern for Russian exports

Article Abstract:

Johnson Matthey PLC, a UK-based metals refining and trading firm, reported a shortfall of 210,000 troy ounces in the palladium market in 1997 even as demand rose to 21% from 1996, to 7.46 million ounces. Against this scenario, spot palladium prices climbed to $410 per troy ounce breaking through the previous record of $390 set in April 1998. The increase comes amid worries that exports of the precious metals will continue to dwindle until the second half of 1998. Russia, which produces 60% of the world's palladium, unloaded more than the usual shipments during the second half of 1997 but this was not able to address the imbalance.

Comment:

Reported a shortfall of 210,000 troy ounces in the palladium market in 1997 even as demand rose to 21% from 1996, to 7.46 mil

Primary Smelting and Refining of Nonferrous Metal (except Copper and Aluminum), Palladium, Exports, Precious metal products, Johnson Matthey PLC, Article

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Russian art heads home

Article Abstract:

Major sales of Russian art are set to start at auction houses in London, England. There is a surge in the Russian art market driven by Russians with great wealth. Antiquities, paintings, silver workings, porcelain and all manner of precious objects are to be sold.

Forecasts, trends, outlooks, London, England, Art industry, Art industries and trade, Industry forecasts, Art, Russian, Russian art

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Christies names Dolman CEO, replacing Davidge

Article Abstract:

Edward Dolman has been appointed as the new chief executive officer (CEO) of Christies International. The 39-year old Dolman will replace Christopher Davidge as CEO.

Executive changes & profiles, Art Dealers, Auctioneers, Art Dealers, Officials and employees, Appointments, resignations and dismissals, Christie's International PLC, Davidge, Christopher M., Dolman, Edward

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