Wild Palladium Rally at Risk From Recession Later This Year
- Metal plunged Monday after surging on Russian supply concern
- Exports now seen likely to continue; demand threat is looming
Palladium ingots at a plant in Kasimov, Russia.
Source: Bloomberg
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Palladium’s wild ride following Russia’s invasion of Ukraine is likely not over yet. But this year’s stunning gains are looking fragile on signs exports will be maintained and that demand from automakers could suffer.
The metal -- about 40% of which is mined in Russia -- shot to a record high last week due to nervousness over restrictions on the country’s banks and concern that flight bans would make it difficult to supply global customers.