Deutsche Bank hikes 2008 rhodium forecast by 5.5 pct

Newswire

LONDON, June 30 (Reuters) - Deutsche Bank has raised its full-year 2008 rhodium price forecast by 5.5 percent, citing continued high demand from carmakers and tight supply, the bank said in a note. The price of the precious metal, the world's most expensive, is likely to average $9,293 an ounce this year, the bank said. Demand is likely to remain firm from autocatalyst manufacturers, whose consumption accounts for 85 percent of the market, and from glass manufacturers. A supply ...

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