Palladium Price to Soar on Automaker Demand, Stillwater Says
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Palladium will rise to its highest in a decade amid increased demand from carmakers and depleted Russian stockpiles, said Stillwater Mining Co., a U.S. producer of the precious metal.
Auto-industry usage will increase as catalytic-converter manufacturers accept the metal over platinum because of its lower price, Stillwater Chief Executive Officer Francis McAllister said. The Columbus, Montana-based company predicts global auto output will rise to 72.8 million units in 2011 from 64 million units this year.