UPDATE 1-CPM forecasts 2006 platinum surplus of 413,000 oz

Newswire

(Updates with price outlook, managing director's comments in paragraphs 5-7, adds byline) By Zach Howard NEW YORK, June 27 (Reuters) - Strong automotive demand for metal and new investment in commodities fueled a 6.4 percent jump in platinum's average price in 2005, according to a report issued by a U.S. commodities research firm on Tuesday. CPM Group said in its 2006 Platinum Yearbook that the precious metal averaged nearly $900 an ounce last year, before extending its gains to record ...

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