Despite poor economic data out of China and Europe recently, global palladium demand shows no sign of declining. On the contrary, demand from end users in the automobile industry continues at record highs. Russian palladium reserves are nearly exhausted, while South Africa – the world's second largest producer – has been unable to significantly increase production. Thus, the future is bright as far as palladium prices are concerned.
As a result, many palladium users in the automobile industry are worried, as palladium is an important metal in the production of catalysts systems. Demand from the electronics industry is also increasing; although in recent months demand from investors has declined – partially offsetting demand increases elsewhere.
Though the palladium price has dropped over the last month, the price uptrend since last October is still intact, and the majority of analysts polled by Bloomberg expect it to trade at $850 per ounce by the end of the year. This is a 30% appreciation on today’s price.
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Palladium Demand Still Robust: April 17, 2012
Published 04/17/2012, 01:35 AM
Updated 05/14/2017, 06:45 AM
Palladium Demand Still Robust: April 17, 2012
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