Palladium Surges 12% as UK Sanctions Target Russia Metals
A mechanic prepares to install a catalytic converter onto a car in San Rafael, California.
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Palladium headed for its biggest gain since March 2020 as the UK government targeted Russian metals — but not palladium — with new sanctions.
The metal that’s mainly used in catalytic converters surged as much as 12% on Thursday after the UK published measures that ban British citizens and entities from buying certain Russian metals.