Palladium reaches 13-year high

Palladium climbed to a 13-year high in the longest run of gains in more than a month in New York on concern supply will lag demand and add to shortages. Palladium, mostly used in catalytic converters in cars alongside platinum, advanced 25% this year as auto companies used more and as supply was cut by a mine strike that ended in June in South Africa, the second-biggest producer. There have been no sanctions yet on palladium, which is heading for a third annual supply shortfall.