With its new catalyst, Honda said enhanced performance of lower-cost palladium in purification of exhaust emissions enabled it to replace a portion of rhodium use.

FORBES: Honda's Reduced Use Of Rhodium Part Of Effort To Shift Away From More-Expensive Metals

The bank estimates an increase in platinum auto-catalyst demand by more than 400, 000 ounces over 300, 000 ounces in palladium in 2011.

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