Commodities
Palladium Output Cuts Needed to Bolster Market, Northam CEO Says
- Analysts predict widening surpluses of the metal used in cars
- Dunne sees industry destocking of PGMs taking another year
Palladium ingots
Source: BloombergThis article is for subscribers only.
Palladium prices won’t recover unless the mining industry cuts supply further, according to the boss of a South African producer.
Palladium – mostly used to curb emissions from gasoline vehicles – has fallen 72% since peaking in March 2022 following Russia’s invasion of Ukraine. Just over two-fifths of the metal is produced by Russia’s Norilsk Nickel PJSC as a byproduct of nickel mining, but palladium is also extracted alongside platinum in South Africa, Zimbabwe and North America.