Palladium Price OutlookPalladium prices fell notably over the past month, likely due to the partial reopening of mines in major producer South Africa, which somewhat eased global supply concerns. On 15 May, palladium closed the day at USD 1,840 per troy ounce, which was 14.5% lower than on the same day of the previous month. While the price was down 4.2% on a year-to-date basis it was 40.4% higher than on the corresponding day last year. The slump in prices in recent weeks can be largely linked to South Africa’s mining sector coming back online at 50% capacity, as lockdown measures progressively eased. The news reduced some concerns over global supply chains as South Africa is home to almost 40% of the global supply of palladium. Moreover, weak demand prospects from the automotive sector—particularly, demand for energy efficient cars in Europe and parts of Asia has ebbed due to the uncertainty over Covid-19’s impact on the economy—should hamper global car sales this year, thus further dampening prices.
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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