Palladium Price OutlookPalladium prices averaged lower in May on a worsening demand outlook. Palladium prices averaged USD 2,060 per troy ounce in May, which was down 11.6% from April's price and was 28.3% lower than in the same month last year. Meanwhile, on 31 May, palladium closed the day at USD 2,032 per troy ounce, which was 12.1% lower than on the same day of the previous month. As palladium is chiefly used in vehicles’ catalytic converters, May’s price fall was largely due to soft vehicle output and demand, amid Covid-19 restrictions in China, surging fuel prices, semiconductor shortages and supply chain constraints which have been exacerbated by the war in Ukraine. Vehicle sales have fallen by double digits in the EU and China in recent months. Moreover, market concerns over Russian palladium supply—which is roughly 30% of the global total—have likely eased somewhat, with Russian company Nornickel recently stating that Western sanctions had had no material impact on its palladium sales.
Palladium Price History Data (USD per troy ounce, aop)
Price forecasts and historical data for Energy, Metals and Agricultural Commodities.
Palladium Historical Price Chart
Price forecasts and historical data for Energy, Metals and Agricultural Commodities
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