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Commodities

Palladium price nears 16-year high

Higher costs may lead automakers to curtail dependence on the metal

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Palladium, part of the platinum group of metals, helps reduce noxious emissions from gasoline engines.   © Reuters

TOKYO -- The international price of palladium, a precious metal used to purify automobile exhaust, has climbed to its highest territory in about 16 years as emerging-market demand for gasoline vehicles rises and producer countries reduce supply.

Palladium's rise

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