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The Independent Online
MARCH palladium set a contract peak of dollars 111.50 an ounce on the New York metal exchange, its highest price since August 1990, bolstered by worries over tight supply. The Nymex trading ring and member booths were thinly staffed as a result of a severe storm that struck New York, causing massive transport delays. Japanese dealers were expected to trade the metal higher in Tokyo on Monday, helped by expectations of shortfalls in Russian supply and the continuing precarious political situation in South Africa. New York dealers expect palladium to push up to dollars 120 and possibly dollars 127 if it overcomes the dollars 112- dollars 113 an ounce level.