Palladium prices averaged USD 1,019 per troy ounce in September, up 9.3% from August. On 30 September, the commodity traded at USD 998 per troy ounce, up 1.8% from 30 August.
Rising supply concerns drove palladium prices well above August’s average in September: Leading producer Sibanye-Stillwater announced production cuts and Russian President Vladimir Putin floated the idea of restricting Russian metal exports. Demand-wise, the price rally was supported by rebounding global vehicle demand, escalating geopolitical tensions, plus a weaker U.S. dollar and lower U.S. treasury bill yields in September vs August.
This chart displays Palladium (US$/toz) from 2022 to 2024.
Palladium LME (prices in US$/toz, aop)
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | |
|---|---|---|---|---|---|---|---|---|
| Palladium LME | 1,567 | 1,445 | 1,250 | 1,093 | 980 | 973 | 970 | - |