US automakers may be hit by rising platinum prices

Newswire

By Poornima Gupta DETROIT, Nov 29 (Reuters) - The rising price of platinum, used to filter engine exhausts, threatens to squeeze already thin margins of U.S. automakers and may prompt them to increase use of cheaper palladium. Higher platinum prices come at a time when General Motors Corp. and Ford Motor Co. are struggling with soaring health care and raw material costs and declines in U.S. market share. Platinum and its sister metal palladium are used in autocatalysts to filter out ...

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