Palladium Price OutlookPalladium prices tanked in the second half of January following a prolonged upward trend observed over the course of 2017, as a more uncertain outlook for the automotive industry helped marginally unwind last year’s price gains. On 9 February, palladium closed the day at USD 969 per troy ounce, which was 12.5% lower than on the same day in January and was down 8.2% on a year-to-date basis. Nevertheless, February’s price was 24.7% higher than on the corresponding day in 2017. Bouts of severe winter weather were behind poor sales of new cars in the U.S., in turn driving softer demand for palladium, the principal metal used to make auto catalytic converters. Meanwhile, a decline in demand for diesel cars and a corresponding surge in demand for alternative car types in Europe helped keep the price of palladium elevated in recent months. Car sales in China, the world’s largest vehicle market, grew by double digits in January in year-on-year terms; however, long-term forecasts for automotive sales are more conservative.
Palladium Price History Data (USD per troy ounce, aop)
Price forecasts and historical data for Energy, Metals and Agricultural Commodities.
Palladium Historical Price Chart
Price forecasts and historical data for Energy, Metals and Agricultural Commodities
Start Your Free Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.