Palladium Price OutlookPalladium prices fell rapidly over the past month, hitting the lowest level in over a year in early October, due to the slowdown in car production. On 7 October, palladium prices closed the day at USD 1,884 per troy ounce, which was 21.1% lower than on the same day of the previous month. Moreover, the price was down 19.6% on a year-to-date basis and was 20.1% lower than on the same day last year. The steep fall in prices in recent weeks was predominately due to flagging demand from the automotive sector. Global car manufacturers continue to grapple with the ongoing semiconductor shortage, which is hampering production levels and demand for palladium in turn. In September, the IHS global sector PMI showed that activity in the automotive sector fell at the quickest pace since May 2020 relative to the previous month. Moreover, the drop in prices was likely exacerbated by some sell-off from speculative investors as the outlook for the auto sector remains dim for the rest of 2021 and into early 2022. Meanwhile, a strong U.S. dollar brought on by higher U.S. 10-year yield rates likely also weighed on demand for palladium from buyers in other currencies, further denting prices in recent weeks.
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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