Platinum Futures Gain in Tokyo as U.S. Auto Sales Beat Forecast

升呢

Platinum futures in Tokyo rose to a three-week high after U.S. auto sales fell less than expected, easing concern that a surge in mortgage defaults would slash demand for cars and metals used to make exhaust filters.

U.S. auto sales declined 0.6 percent last month, defying analysts' forecasts for a plunge as rising home loan defaults deter bank lending. At the same time, projected output cuts by miners could lead to a ``supply crunch,'' said Jonathan Barratt, managing director of Commodity Broking Services.

``We could be in for some volatile times if supply for the metal cannot match demand from the car sector,'' said Barratt today in Sydney.

Platinum for August delivery in Japan rose 33 yen, or 0.7 percent, to 4,739 yen a gram ($1,268 an ounce) as of 10:35 a.m. on the Tokyo Commodity Exchange. The most-active contract climbed to as much as 4,745 yen a gram, the highest since Aug. 15.
Metal for immediate delivery rose $4, or 0.3 percent, to $1,278.75 an ounce. Palladium, a related metal used in exhaust filters, was unchanged at $333.50.

U.S. consumers bought 1.48 million new vehicles last month, down from 1.49 million a year earlier, Autodata Corp. said yesterday.
Analysts and economists had expected a 1.9 percent decline in the seasonally adjusted annual sales rate for the month, according to the average estimate in a Bloomberg survey.

Japanese passenger vehicle sales gained in August as carmakers introduced new models, the Japan Automobile Dealers Association said Sept. 3. Anglo Platinum Ltd., the world's biggest producer, has said it may miss its 2007 output target by as much as 12 percent after strikes and safety delays.

Amigo

馬溜bb

原帖由 Amigo 於 2007-9-5 17:13 發表

前輩你明？就快些翻譯啦..............