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North American Palladium Limited Şirket Message Board

  • bellbell63 bellbell63 Apr 29, 2013 5:41 PM Flag


    From SWC Q1 info

    "The Company’s recycled volume of palladium, platinum and rhodium (including tolled ounces) in the first quarter 2013 totaled 154,200 ounces, a Company record by a significant margin. This compares to 107,300 ounces recycled during the first quarter of 2012. New suppliers account for the bulk of the surge in recycling volume, although higher PGM prices were also a factor."

    Quite a jump and IMO real significance is surge in new suppliers. As more and more companies realize that there is real money in recycling, SWC operation will grow and grow.

    IMO weakness in PD is a demand issue -
    - Ford (fusion and focus) success comes at expense of Honda
    - Russia seems to have "found" plenty of PD to export
    - India yesterday on BBC news reported the first decline in auto production in 20 years. Usual growth is 10%+.
    - Europe continues headed downward - Even Germany has slowed to a crawl.
    - Don't see too much news about South America autos - Brazil March slightly up from last year but JAn/Feb were awful.
    - Recycling expanding rapidly.

    Take these widespread issues into account, not just SA power/labor issues.

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    • I just noticed that you actually do have some pretty decent things to say about PAL and that you did well with SWC. Congrats!

      Sentiment: Strong Buy

    • Sorry buddy, putting you on ignore... This is the PAL board!

    • Question is, Is SWC making much of an ROI on their recycling operations yet?

      Last I looked , recycling might have actually been more a 'distraction' from mining ops and might even have been hurting mining profitability.

      Might be better to close down recycling and remove that supply from the market and help overall company profitability.

      As to your comments on Russia, India, Europe, Germany, S America....What's any of that got to do with Thunder Bay???

      You stepping into the macroworld now?

      As to demand issues for Pd being THE problem??-- in the BRICS, demand is still growing overall ...and the EU we all know is the 'Lagarde'.

      But that doesn't have much of an effect on Pd demand because of diesels.

      In terms of Pd demand, China is most important....especially considering what RR says re the Chinese only using 10% of what the West uses in Pd loadings /cc.

      China already uses lots of Pd .... not just for cc's.

      just think if they only doubled their Pd loadings /cc and brought it up to 20% of what the West uses.

      Keep your eye on the ball and watch SA and China, not Thunder bay and EU Lagardes.

      think like Rockefeller----Pd to 800+ very soon now IMO.

    • By nature, recycling PGM has it's limits.

      If Europe's economy gets bad enough, that would probably trump supply issues.

      Otherwise, we should find out soon enough what kind of impact SA power, labor, and decreased cap-ex can have on Pt. and Pd. prices.

    • Real some real good info there bell.

      I was surprised by the strength in recycling in that most "junk yard" and scarp dealers are believed to stockpile. Then again, as I have posted, there are numerous stories about cat converters on cars being stolen. So maybe .....

      Sentiment: Strong Buy