UPDATE 1-US automotive platinum demand up 54 pct in 2003

Newswire

(Adds quotes, details) By Alden Bentley NEW YORK, Nov 18 (Reuters) - Platinum purchases by U.S. car companies will rise 54 percent in 2003, reflecting decisions made before prices for the metal rose to 23-year highs this year and palladium crashed from all-time peaks in 2001, refining and chemical company Johnson Matthey said Tuesday. "Given the price differential between platinum and palladium, it is likely that some auto makers are going to switch into palladium-rich catalysts in ...

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