Palladium's prices have reached high levels this year, the New York Stock Exchange, which jumped 9%. This year, it is the best performance among the major metals. And investors have pledged before the start of the race, reports in Bloomberg.
The market has a very positive point of view
According to CPM Group, almost 70% of the order Palladium is the automotive industry. Metals, mainly used in catalytic converters, have benefited from the diesel to the automotive industry for gasoline engines. The change has led to a demand for a limited supply market today.
Experts have stated Chinese "smog" # 39; fighting against The palladium demand was a new factor, the more stringent standards of contamination caused the automakers to use more catalytic converters.
"The market has a very positive point of view (…) We have faced the supply deficit eight years, which is expected. The supply was doubtful in the face of mining, as well as the reduction of existing stocks, "said Maxwell Gold, director of investment strategy in Aberdeen Standard Investments.
Market advertisers, including Citigroup, had higher prices for metal prices than those on Friday $ 1,170 per vessel.
Palladium production is very concentrated, as in platinum. Today, Russia and South Africa are created The supply of world mines is three quarters. The main production country, Russia, was 81 million tonnes in 2017. Norilsk Nickel's Russian company is the world's largest manufacturer of pallets and almost 40% of world production.