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Platinum and Palladium Demand Will Rise, Despite End of Strikes


Platinum and palladium demand will rise, despite mining companies and union officials reaching an accord to send employees back to work, ETF Securities U.S. research director Mike McGlone tells TheStreet's Joe Deaux. Since the Thursday announcement, platinum futures have fallen nearly 3% and palladium futures have dipped about 5%. McGlone says other factors will boost demand, including solid auto sales in the United States and encouraging manufacturing PMI data from China. Both precious metals have industrial applications, including palladium's heavy use in automobile catalytic converters.