Palladium Prices

Palladium prices averaged USD 1,012 per troy ounce in March, up 7.9% from February. On 29 March, the commodity traded at USD 1,017 per troy ounce, up 6.8% from 29 February.

Palladium prices rebounded on average in March following the prior month’s downturn, as global vehicle demand recovered from the year’s soft start. Mounting expectations of additional fiscal stimulus in China, higher U.S. economic growth projections and a weaker greenback added further momentum. That said, platinum-for-palladium substitution in vehicles capped the overall increase; palladium’s primary use is in cars’ catalytic converters.