Palladium Enters Bear Market as Supply Concerns Ease
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Palladium fell for a fifth straight session, pushing the metal into a bear market, as supply concerns eased amid signs of recovering mine output this year.
Production in South Africa, the world’s second-biggest supplier, will gain 17 percent to 2.48 million ounces, the highest since 2011, following the five-month mine strike that ended in June of last year, Johnson Matthey Plc said in May. At the same time, slowing growth in auto sales in China will limit demand for the metal, used in pollution-control devices.