VW Scandal's Boost for Palladium Seen Sustained, Top Miner Says
- Norilsk sees platinum ratio at 13-year low matching demand
- Biggest miner of metal earns more from palladium than platinum
This article is for subscribers only.
The boost for palladium prices after a scandal at Volkswagen AG over car pollution tests will probably be sustained as the metal’s biggest monthly jump in two years brings it into line with supply and demand, according to GMK Norilsk Nickel PJSC, the top producer.
Prices of palladium, used in autocatalysts to filter exhaust fumes, mostly from gasoline cars, has surged 16 percent since Sept. 18, when it emerged Volkswagen had rigged diesel vehicles to help them pass emissions tests, exposing it to as much as $18 billion in fines. Platinum, used more in diesel catalysts, has declined 3.4 percent in the same period as investors speculated that car buyers would switch to purchasing gasoline vehicles.