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19

Norilsk Nickel Forecasts Palladium Price

Russian biggest metals producer Norilsk Nickel said on Thursday it expected the palladium price

Russian biggest metals producer Norilsk Nickel said on Thursday it expected the palladium price to average around $230.00 an ounce in 2005.

"For last year, the average price was $230. The average price for this year should be close to the average price for last year," Victor Sprogis, head of marketing and sales said. He said that overall prices would be stable with a small upwards bias.

That was slightly above an average $200 an ounce forecast in a Reuters poll released on Monday and compares with a $160-230 price range over the next six months as forecast by refiners Johnson Matthey in their latest industry survey.