N e w s

The continued delays of Russian palladium export are telling not only on Western enterprises which use the metal for the production of catalysts, but also on Russian factories working for the military complex, reports the "Vedomosti" newspaper. Since the beginning of 2000 not an ounce of palladium necessary for the production of ceramic condensators used in radio-electronics, and avionics, night vision and radio equipment reached the military plants. This means the military order may not be fulfilled. The Gokhran is a monopoly palladium seller but it has not been selling the metal since the beginning of the year for no Government permission has yet been given. Meanwhile, the plants' own palladium reserves are coming to an end and producers of ceramic condensators, which have been in 3 times as much the demand by the miltary in the last six months, are failing to provide the supplies on due dates. Besides the lack of palladium at the market the internal buyers are concerned about the high price on the metal, which surged from $400 a troy ounce (31.1 g) to $700 since the end of last year. According to the Government direction, the Gokhran of Russia sells precious metals including palladium at the prices of London Metal Exchange which leads to the steady growth of price on finished goods.

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