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Palladium highest since 2011 on supply concerns

Published on NewsOK Modified: April 11, 2014 at 3:46 pm •  Published: April 11, 2014

The price of palladium is the highest it's been since the summer of 2011 as traders worry about supplies of the industrial metal.

The actively traded June contract for palladium rose $14.50, or 1.8 percent, to settle at $806.80 an ounce Friday, the highest price since August 2011.

Traders are worried that the tensions between the West and Russia over Ukraine will lead to disruptions in shipments of palladium from Russia, a major producer of the metal. Palladium is used in making catalytic converters for cars.

Other metals ended mixed. Gold, silver and copper fell and platinum rose slightly.

Energy prices were mixed. Crude oil edged up 34 cents to $103.74 a barrel.

Wheat, corn and soybean futures fell.