Theatrum mundiGerman concern DEGUSSA has published results of the analysis of the market of precious metals in February. As experts have noted, the tendency on decrease in consumer interest to the gold, shown last months, in February has not changed. Increase of taxes planned in the USA while has not affected in any way the gold market though, according to experts, in the near future gold begins to be in demand again, as means of preservation of capitals in the conditions of inflation.
as analysts DEGUSSA consider, the major factors influencing pricing in the market of precious metals, in February have not changed. On the first place there is a change of market conditions in the large industrial countries and a dollar exchange rate. Influence of these factors on instability of prices on separate precious metals can depend, in particular, on, whether the given metal as an industrial material or first of all as capital investments means is used. So, the great influence on dynamics of the February prices for silver was rendered by cancellation by the Indian government of restrictions on import of this metal, undertaken on purpose to stop contraband. The market has reacted to this measure some revival of demand, however while it is not known, what influence on it will be rendered by rather high import duty - $20 for 1 kg.
instability of prices on a palladium and platinum was especially strong - after their small increase in first half of month fast and strong recession has followed. In London the highest prices have been fixed in second half of day on February, 11th and have made $370,50 for platinum and $119 for a palladium. The palladium it had a second peak after June, 1990 of One of the reasons of jump of the prices there was a cancellation of the planned negotiations between Russia and Japan about deliveries of metals from Russia in first half of 1993 - 1992 of the arrangement operating in second half have been only prolonged for three months. But already on February, 19th, after Japanese motor-car manufacturers declared curtailment of production, considerable fall of the price for metals of platinum group has begun. In the market rumours that Japanese auto makers as if were engaged in sale of platinum metals from the stocks began to be spread. It has led to falling in February of the prices for platinum on 4,4 % and on a palladium - on 8,7 %.
Falling of the prices for a palladium was accelerated, probably, and from - that in the end of February has expired the first future contract Tocom on this metal, and some participants of the market already in the first week of month held a great number of open consumer positions.
in the beginning of March movement of the prices for platinum and a palladium proceeded. After the message of American company Allied - Signal about created by it palladievom the catalyst for clarification of exhaust gases of cars, the prices for a palladium have increased again - more than on 5 %. Thereby the palladium has partially forced out platinum from the market, and the prices for it have fallen to 1,75 %. However, already next day Allied - Signal has informed that the new catalyst will not replace rhodic and platinum analogues.
so considerable instability of prices in the markets of precious metals has caused anxiety of the countries - manufacturers. For example, for the republic of South Africa on which share it is necessary more than half of world production of platinum and a palladium, it will turn back additional annual profit in $6 million on a palladium and simultaneously losses in $16 million on platinum. In this connection, as the press informs, large South African manufacturers of platinum now think, whether to reduce its extraction.
on the first week of March at the London stock exchange of metals of the transaction were made at gradual reduction of prices on all kinds of metals. Most strongly - for 40 pounds sterling (1474,50 pounds sterling for 1) - has gone down in price copper, having reached thereby floor price for last three and a half a month. However this tendency can amplify in connection with the increased receipts on the market of the Russian copper.
as to aluminium and nickel they arrive on the market from the countries of the former USSR in such quantities that other manufacturers of these metals will be out of work. The similar situation can arise and in the tin market: falling of the prices for this metal on $100 - to $5670 for ton became a consequence of the messages which have appeared on last week about receipt of parties of cheap tin from republics of the former Union.