Car makers dug into platinum inventories in '02

Newswire

By Alden Bentley NEW YORK, May 19 (Reuters) - Global use of platinum in catalytic converters soared in 2002 due to toughening pollution rules and price volatility in sister-metal palladium, but car makers preferred existing inventories to new purchases, platinum group metals (PGM) specilist Johnson Matthey Plc said Monday. In its Platinum 2003 review, Johnson Matthey, a metals refiner and chemical company, said the amount of platinum used in 2002 in automobile antipollution systems ...

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